EU Supply Chain Act: Timber trade fears further bureaucracy

The EU Supply Chain Act entails further bureaucratic efforts for companies. On December 14, 2023, the European Parliament and member states reached an agreement on the European Supply Chain Act, which still requires approval from the European Council. The provisions of the European Supply Chain Act will surpass the already ambitious German Supply Chain Act, intensifying due diligence and inspection in the supply chain. The requirements are already high, involving examinations of human rights and environmental standards throughout the supply chain. Companies above a certain size must document and transparently present these assessments in an annual report. There ...