The European Parliament and the member states of the European Union (EU) have reached an agreement to prohibit the importation of products such as cocoa, palm oil, coffee, beef, timber, rubber and soybeans, when their planting, production and/or marketing contributes to deforestation.
This measure, so far provisional, will be submitted to the Parliament and the Council of the EU for its final approval, which is expected to take place in May 2023 (the "Provisional Agreement").
The Provisional Agreement set forth that companies engaged in the production of these products must verify and issue a "due diligence" statement certifying that the traded goods have not led to deforestation and forest degradation anywhere in the world after December 31st, 2020.
In addition, the Provisional Agreement establishes that deforestation refers not only to the deforestation of primary forests, but of all types of forests. Therefore, producing and trading companies will have to prove the traceability of their products through geolocation data of the crops.
To see the Provisional Agreement in its original version, please click on the following link