EU, postpones implementation of the Forest Conservation Act by an additional year

On the 17th, the European Parliament passed a revised proposal to postpone the implementation of the European Union Deforestation-Free Regulation (EUDR) by an additional year, allowing related export companies to have more time to prepare. The EUDR mandates that companies launching or distributing seven items, including timber, cattle, cocoa, coffee, palm oil, soybeans, and rubber, in the European Union (EU) market must submit a due diligence report proving that the production of their products is unrelated to deforestation or forest degradation. Originally, the law was set to take effect from the 30th of this month, but it has been postponed to reduce administrative burden and costs for companies and to increase the effectiveness of law enforcement, considering the need to resolve technical issues in the due diligence reporting system. Large and medium-sized enterprises will have until December 30, 2024, to comply, while small and micro enterprises will have until June 30, 2027. ...