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TheCorporateCounsel

TheCorporateCounsel.net

A basis for research and practical guidance focusing on federal securities laws, compliance & corporate governance.

DealLawyers

DealLawyers.com

An educational service that provides practical guidance on legal issues involving public and private mergers & acquisitions, joint ventures, private equity – and much more.

CompensationStandards

CompensationStandards.com

The “one stop” resource for information about responsible executive compensation practices & disclosure.

Section16.net

Section16.net

Widely recognized as the premier online research platform providing practical guidance on issues involving Section 16 of the Securities Exchange Act of 1934 and all of its related rules.

PracticalESG

PracticalESG.com

Keeping you in-the-know on environmental, social and governance developments

The UK is looking to create a supply chain management law focusing on mitigating deforestation. During the recent London Climate Action Week, the government announced its plans to use existing and new legislation to tackle deforestation. The concept behind the new law is similar to the EU’s deforestation regulation and will require companies in certain industries to trace their supply chains. A press release from the UK government describes the framework:

“Under the proposals UK businesses who trade in commodities sourced from rainforests such as soy, palm oil, cocoa and rubber will need to check that their supply chains are not contributing to illegal deforestation. These products are commonly found in everyday supermarket products including chocolate, cooking oils, shampoo and cosmetics.

UK companies have been at the forefront of global efforts to tackle deforestation within their supply chains, but voluntary action alone cannot tackle this global challenge, and several major supermarkets have been calling for stronger regulation.”

Right now, details are scarce beyond the initial concept. The press release is unclear on whether products contributing to deforestation will face market bans similar to those in the EU. This is likely to have effects beyond the UK. The EU’s deforestation law is the subject of controversy in EU/US relationships. The US is attempting to gain an exemption from the law, allowing any such goods originating in the US to automatically be deemed as not contributing to deforestation. We’ll see if the UK’s law introduces similar friction and if the US will seek an exemption there as well.

Our members can learn more about supply chain management here.

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The Editor

Zachary Barlow is a licensed attorney. He earned his JD from the University of Mississippi and has a bachelor’s in Public Policy Leadership. He practiced law at a mid-size firm and handled a wide variety of cases. During this time he assisted in overseeing compliance of a public entity and litigated contract disputes, gaining experience both in and outside of the courtroom. Zachary currently assists the PracticalESG.com editorial team by providing research and creating content on a spectrum of ESG… View Profile