EU States Back New Delay To Anti-deforestation Rules [Barron's]
NESTLE S.A S/ADR (NSRGY)
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Source: Barrons
Already delayed by a year, the rollout of the law banning imports of products driving deforestation would be pushed back to the end of 2026 under plans backed by a majority of member states. These still need approval by the EU parliament. Advertisement - Scroll to Continue Led by Germany and Austria, EU capitals also backed holding a review of the sweeping legislation in April next year -- before it even comes into force. The new delay goes further than a six-month grace period for large firms already proposed by the European Commission, while backing a push to cut back reporting requirements including for small companies. Pierre-Jean Sol Brasier of the Fern environmental group said the move sent a "disastrous signal at every level," calling the back and forth on the law "a caricature of incompetent EU policymaking". "We are creating instability for companies that have invested millions" towards compliance, warned Sol Brasier, who said the door was now open "for EU lawmaker
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