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EDUR - From Farms to Fines
Manage episode 440493524 series 3554013
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This episode focuses on European Union’s Deforestation Regulation (EUDR) 2023/1115, explaining its scope, key dates, and the compliance process that companies must follow.
Businesses dealing with seven major commodities—cattle, cocoa, coffee, oil palm, rubber, soya, and wood—are required to conduct rigorous due diligence to ensure their supply chains are deforestation-free.
The episode also covers the three phases of compliance: data collection, risk assessment, and risk mitigation. Additionally, we discuss the role of satellite technology in monitoring deforestation and enforcing the regulation, as well as the potential fines and penalties for non-compliance. Lastly, we’ll look at the operational and financial challenges companies may face due to these new requirements, and how businesses like HSAT are providing solutions to help companies navigate EUDR compliance.
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