New European Regulation for Sustainable Trade: Impact on Importers and Exporters
As of December 30, 2024, the Regulation (EU) 2023/1115 will come into force, transforming the landscape of international trade in raw materials. This new regulation aims to combat deforestation and forest degradation, two problems that threaten global sustainability.
What does this mean for importers and exporters?
Increased responsibility: Both importers and exporters operating with the European Union will have to guarantee that the raw materials they trade comply with two fundamental requirements:
1. Deforestation-free:
- Raw materials must not come from deforested areas.
- It is crucial to verify the origin of the products and ensure that they do not contribute to the destruction of forests.
- Tools such as the following can be used:
- Forest certification systems (FSC, PEFC, etc.).
- Satellite imagery for real-time monitoring.
- Official documents (declarations of origin, logging permits, etc.).
2. Production in accordance with regulations:
- Raw materials must have been produced sustainably.
- Production processes must comply with sustainable standards and respect environmental and social regulations in the countries of origin.
- It is vital to ensure that suppliers:
- Share information about their production practices.
- Undergo audits to verify compliance with regulations.
- Are committed to sustainability.
Products with increased control:
- The regulation focuses on specific products that have a high impact on deforestation, including:
- Coffee
- Cocoa
- Soy
- Rubber
- Bovine cattle
- Wood
- African oil palm
Why comply with the new regulation?
- To avoid fines and sanctions.
- To protect your company’s reputation and brand.
- To access a market of consumers increasingly demanding sustainability.
- To contribute to the protection of forests and the fight against climate change.
Where to find more information?
We recommend that all actors in international trade familiarize themselves with the new Regulation (EU) 2023/1115 and take the necessary measures to comply with its requirements. Adapt your business to the new market demands and ensure a sustainable future for your company.