The EUDR is legislation that mandates operators and traders within the EU to ensure their products do not contribute to deforestation or forest degradation globally.
Sigli, committed to sustainability, supports businesses in adhering to the EU Deforestation Regulation (EUDR) through expert consulting services and cutting-edge solutions. By providing guidance on regulatory compliance strategies and deploying technology-driven tools, Sigli ensures that businesses can accurately track and verify their supply chains to mitigate deforestation risks.
The EU Regulation on Deforestation is anticipated to come into effect approximately twenty days after its publication in the Official Journal of the EU, expected around May 2023. Following this, large companies will have 18 months to make necessary preparations before the prohibition takes effect, while small companies will have 24 months.
The regulation, enacted on June 29, 2023, has a crucial compliance deadline set for December 30, 2024, for companies to meet these due diligence requirements.
Non-compliance with the EUDR after this date can lead to significant penalties, including fines of up to 4% of the company's total annual turnover in the EU, highlighting the importance of adherence to these new standards.
