Published on November 6, 2024 at 4:17 p.m. / Modified on November 6, 2024 at 4:34 p.m.
The European Union’s decision to delay the adoption of its flagship law on deforestation worries multinationals. The regulation, which was initially due to come into force on December 30, aims to ban the import and export of a series of products (cocoa, coffee, soy, palm oil, wood, rubber, beef, leather) derived deforestation. But the law was hotly contested by producing countries such as Indonesia, Brazil and Malaysia, prompting the European Commission to delay the entry into force of the directive by a year last month.
Member states had already approved the postponement in October, with Parliament’s vote scheduled for the end of the month. The new vote opened the door for MEPs to add amendments. Large companies, particularly those dependent on cocoa and rubber imports, are concerned about possible changes, says the Financial Times.
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