Baker McKenzie’s Import and Trade Remedies Blog has published a new post on the EU’s draft regulation that seeks to introduce new due diligence requirements aimed at tackling deforestation and forest degradation. This new proposal aims to repeal and replace the existing EU Timber Regulation, which imposed due diligence requirements on certain timber products for several years. These developments reflect the increased scrutiny around deforestation and forest degradation. Companies should therefore be prepared to conduct effective due diligence practices to mitigate any potential risks in their supply chains and business operations. The new blog post, “EU Publishes Draft Legislation to Address Imports of Commodities Linked to Deforestation and Forest Degradation,” can be found here.
