Energy News Beat
EU forests absorb around 10 per cent of the total EU emissions, playing an important role both in climate change mitigation and adaptation. Their innate ability to regenerate and adapt makes forests a great ally in facing the damaging effects of climate change.
In November, the European Council approved a regulation establishing the EU’s first certification framework for carbon removals, carbon farming, and carbon storage in products, advancing the goal of climate neutrality by 2050.
Meanwhile, global deforestation surged in 2023 to 6.37 million hectares. Tropical regions are critically affected, accounting for 96 per cent of deforestation.
Critics argue that the European Union’s Deforestation Regulation (EUDR) alone will not be enough to curb tropical deforestation. The delay in implementation should give the EU enough time to reflect upon and learn from its challenges.
The EU agreed to postpone the law’s application by 12 months but declared it would not water down its original terms. The delay will allow third countries, operators and traders to be fully prepared.
This special report looks at the complexity of managing European and global forest assets, their role in achieving Net Zero, and their significant economic benefits.
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