Developing countries face significant challenges in adhering to the European Union's Deforestation Regulation (EUDR), which mandates proving that commodities like wood, coffee, and palm oil are not linked to deforestation. The World Bank recently hosted a seminar to address these concerns, bringing together various stakeholders from government, private sectors, and international organizations. Representatives from Peru and Ethiopia highlighted the difficulties in meeting the EUDR's requirements, such as tracing the origins of products from numerous smallholders. The EU and World Bank offered support through technical assistance and capacity building. Despite this, the complexity and short timeframe for compliance—by December 30, 2024—pose substantial hurdles. The World Economic Forum's initiative, Action on Climate and Trade, aims to further assist countries by aligning trade strategies with climate goals, starting with pilot projects in Indonesia and Rwanda. The collaborative efforts emphasize the need for detailed information, training, and technological solutions to ensure sustainable trade practices.
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