On 31 May 2023, the European Parliament and the Council of the European Union adopted Regulation (EU) 2023/1115 regarding the marketing and export of certain commodities and products associated with deforestation and forest degradation from the European Union. In this Legal Update, we delve into the regulation and highlight what operators and traders should know
The European Union has agreed on the final version of its Carbon Border Adjustment Mechanism (“CBAM”). The CBAM will apply to a limited set of products (cement, aluminium, fertilisers, electric energy production, hydrogen, iron and steel, as well as some “precursors” such as cathode active materials and a limited number of downstream products)
On 25 April 2023, the European Parliament’s Legal Affairs Committee voted in favour of a revised version of the EU draft Corporate Sustainability Due Diligence Directive (“the Draft Directive”).
The revised version differs from the versions that we have previously commented on here, here and here in the following key respects: