A Sustainable Investment in Journalism

A sustainable business requires diverse revenue streams. ESG Investor now operates a subscription service as of Tuesday 14th May. To find out more please get in touch with our subscription team on subscriptions@esginvestor.net

European Parliament Toughens New Deforestation Law

The European Parliament has voted for a new deforestation law which will make “significant improvements” to the European Commision’s original proposal on new rules to ensure deforestation-free products. The law will require companies to conduct due diligence to ascertain that agricultural products sold in Europe are not subject to deforestation and human rights violations, including upholding Indigenous peoples’ rights. The initial draft law will be strengthened by “widening the scope” of commodities to include beef, soy, palm oil, timber, cacao, coffee, natural rubber, maize and leather. It will also extend the definition of “forests” to include other wooded lands. However, the proposal does not address the impacts of EU commodity imports on fragile ecosystems such as wetlands and peatlands. Anke Schulmeister-Oldenhove, WWF’s European Senior Forest Policy Officer, said: “The vote in the Parliament today for a strong deforestation law has been a clear yes: a yes to reducing the EU’s footprint, and a yes to protecting forests and savannahs and the rights of indigenous peoples. It has also been a yes to the calls of EU citizens who do not want to fuel nature destruction through their consumption.” 

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top