Canopy Reacts: Latest EUDR news

The decision to move forward with the EU Deforestation Regulation this year is a welcome course correction by the European Commission. It’s a powerful signal that Europe remains committed to protecting the world’s forests and building an economy fit for the 21st century — an especially meaningful message on the eve of this year’s COP in the Amazon. It shows what’s possible when governments, businesses, and innovators move together toward a common goal: building supply chains that are both sustainable and resilient.

While there are 6- and 12-month delays related to non-compliance penalties and small business compliance respectively, we expect the regulation will ultimately be implemented in full force.

Across the fashion, packaging, and food sectors, many companies are already proving that deforestation-free and circular sourcing is both achievable and economically smart. With policy momentum back on track, business certainty will be strengthened. Now, the opportunity is to accelerate — to mobilize new investment and make Next Gen materials and forest protection the foundation of the global economy.”

— Nicole Rycroft, Founder and Executive Director, Canopy