The Council of the European Union and the European Parliament have reached a provisional agreement on the Commission’s proposal to delay by twelve months the application of the EU Deforestation Regulation (EUDR).
The agreement wipes out all the amendments approved by the EU Parliament during its plenary in mid-November, including the creation of a new category of countries posing “no risk” on deforestation in addition to the existing three categories of “low”, “standard” and “high” risk.
An EU official told Fastmarkets that the provisional agreement will most probably be endorsed on Wednesday December 4 by both the Council’s Committee of Permanent Representatives (COREPER) and by the Parliament’s Environment, Public Health and Food Safety (ENVI) committee. The agreement will then have to be voted by the Parliament during its last plenary, which will take place on December 16-19 in Strasbourg, and then formally adopted by the Council, signed and published in the Official Journal before December 30, 2024.
According to the original Commission’s proposal, the EUDR will be applied on December 30 2025 for large companies and on June 30 2026 for micro and small enterprises.
Interested in learning more? At Fastmarkets, we provide updates on major market events including new regulations as well as macroeconomic shifts, alongside our price data, forecasting and analysis. Speak to one of our experts to find out more.
