The European Parliament has passed a new EU law banning imports that are driving deforestation, including products such as coffee, cocoa, soy, timber, palm oil, cattle, printing paper and rubber. Imports from land that was deforested after December 31, 2020 will be prohibited from the EU market. Companies will be required to provide a certificate stating that their products do not originate from such areas. The EU is the second biggest market for these products, after China. It is estimated that Europe is responsible for around 10% of global deforestation. The law awaits final approval from the EU’s member countries. Environmental campaigners welcomed the law but called for urgent action to prevent banks funding deforestation.
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