EU Timber Regulations — how robust are your due diligence systems?
While the European Timber Regulation dates back to 2010, it only took direct effect in member states last year. Among other things, it requires operators to ensure they have due diligence systems in place to properly manage the risks of acquiring timber (or products derived from timber) that has been illegally harvested.
A mixed picture is emerging as companies affected seek to put in place due diligence systems to address complex supply chain risks. As the regime is bedding down across Europe, now is a good time to ask whether you have a due diligence system in place that fully meets the requirements of the regulation and addresses the specific risks arising for your supply chains.
The European Timber Regulation forms a cornerstone in the EU’s policy to tackle illegal logging and associated trades. It aims to develop greater supply chain transparency and more responsible trading practices in order to reduce illegal deforestation…
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