The Council of the European Union approved the EUDR regulation. The compliance deadline is coming up fast: December 2024. The EUDR aims to combat deforestation and promote sustainable practices within supply chains.
Operators and traders need to prove deforestation-free sourcing for targeted commodities entering the EU market. More precisely, they need to identify, assess, and address the risks of deforestation and forest degradation in their supply chains. Failure to comply may lead to fines of up to 4% of a company’s turnover.
Commodities coming from those countries will be the most affected:
Malaysia, Indonesia, Brazil, Argentina, Ecuador, Peru, Guatemala, Costa Rica, Colombia, the Republic of Côte d’Ivoire, India, Vietnam.
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On June 29, 2023, the European Union’s Regulation on Deforestation-Free Products (EUDR) came into effect and will become applicable to most companies conducting business in the EU.
OPTCHAIN FOR EUDR COMPLIANCE
Optchain’s EUDR software links commodities to their production plots using data capture tools tailored to your supply chain, operations and processes.