The European Parliament (EP) Wednesday approved the new Deforestation regulation reducing the risks of deforestation worldwide.

While no country or commodity will be banned, companies will only be allowed to sell products in the EU if the supplier of the product has issued a statement confirming that the product does not come from deforested land or has led to forest degradation, after 31 December 2020.

The new law was adopted with 552 votes to 44 and 43 abstentions.

The products covered by the new legislation are: cattle, cocoa, coffee, palm-oil, soya, wood,? rubber, charcoal, printed paper products and a number of palm oil derivatives,? including products that contain, have been fed with or have been made using these commodities.

Penalties for non-compliance shall be proportionate and dissuasive and the maximum fine must be at least 4 percent of the total annual turnover in the EU of the non-compliant operator or trader.

Source: Kuwait News Agency