Fair Finance International signs up to CSO Statement on the proposed EU regulation on deforestation-free products
Fair Finance International has joined over 100 civil society organisations from Europe and beyond calling on the European Parliament and EU Member States to close the loopholes in the proposed European Commission’s regulation to tackle EU-driven global deforestation.
Among the proposals to strengthen the regulation is the call to for equivalent due diligence requirements for EU-based financial institutions providing financial services to entities or corporate groups doing business in the commodities and products covered by the regulation. The EU Taxonomy Regulation and the Corporate Sustainability Reporting Directive currently have no obligations on investors and banks to stop and prevent investments going towards harmful activities, and provide no mechanisms to hold them accountable.
Read the full statement and see the list of signatories here.