Civil Law

Countdown to Compliance With European Union’s Deforestation Regulation

Companies are preparing to comply with the European Union’s new deforestation regulation (EUDR).

On June 29, 2023, the European Parliament and Council formally adopted the EUDR.  The EUDR goes into effect on December 30, 2024 for large companies (operators and traders)[1] and June 30, 2025 for micro and small exporters.[2]

The EUDR seeks to ensure that products brought into or exported from the EU market are deforestation-free.  Thus, seven commodities including cattle, cocoa, coffee, palm oil, rubber, soy and wood … Read the rest

Civil Law

European Commission adopts the European Sustainability Reporting Standards

On 31 July 2023, the European Commission adopted the European Sustainability Reporting Standards (“ESRS“). EU and non-EU entities subject to the new EU Corporate Sustainability Reporting Directive (“CSRD“) will be required to report against the ESRS, making the development of interest to entities preparing for reporting under the CSRD regime.

Background

The CSRD, which entered into force on 5 January 2023, creates detailed sustainability reporting requirements and expands the number of EU and non-EU companies subject … Read the rest