Global Canopy: paving the way for new regulation

While holding companies accountable for voluntary commitments on deforestation is crucial, Global Canopy also advocates for regulation to expand action beyond a limited number of leaders committed to net-zero and zero-deforestation. Global Canopy played a vital role in passing landmark EU regulation that mandates companies importing or exporting forest-risk commodities in the EU to conduct due diligence and demonstrate their non-contribution to deforestation.

The evidence from nine annual Forest 500 assessments by Global Canopy emphasizes the necessity of regulation to extend deforestation action beyond a select few. Data from their Trase tool shows the possibility of linking imports to specific commodities, supporting the enforceability of proposed disclosure requirements.

This legislation, along with the UK Environment Act, promises to bring about a transformative change in company action on deforestation in Europe.