The EU will now delay rolling out its landmark deforestation regulation after the Financial Times reported several governments across Asia, Africa, and Latin America warned that the new regulation would be “burdensome, unfair and scare off investors.”<\/p>\n\n\n\n
Wood Central understands that the\u00a012 countries that signed the “United for Our Forests” pledge at the Amazon Summit last August<\/a>\u00a0are the main drivers behind the push,\u00a0with Brazil leading a push to establish a US $250 billion ‘megafund’ at COP28.<\/a><\/p>\n\n\n\n The countries representing 80% of the world’s tropical forests are now accusing the EU of pushing their green standards onto others; with Indonesia leaning heavily on EU countries<\/a>, including the Netherlands,\u00a0the EU member at greatest risk from trade disruption<\/a>, to delay the legislation.<\/p>\n\n\n\n