Nestlé, Michelin and more than 50 other companies have said the EU’s decision to delay its landmark deforestation law is causing uncertainty across business and putting investment at risk.
The law, which was due to come into force on December 30, bans goods from being sold within the bloc which are made with commodities grown on deforested land from seven sectors including cocoa, palm oil, rubber and wood.
But it has been fiercely contested by producing countries such as Indonesia, Brazil and Malaysia, prompting the European Commission to say last month that it would postpone its enforcement by a year.
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