UK Pushes to Delink Supermarket Supply Chains From Deforestation
(Bloomberg) -- The UK government will introduce legislation to ensure supermarkets remove products linked to illegal deforestation from their shelves, similar to legislation recently enacted in the European Union.
Most Read from Bloomberg
Biden’s Support of Israel Alienates More Democrats in New Poll
Battery Startup ONE Demotes Founder and CEO During Cash Crunch
Big Tech’s Ability to Deliver on AI Profits Looms Over S&P 500
Businesses with a global annual turnover of £50 million ($62.6 million) and using over 500 tons of regulated commodities a year, would be banned from using them if sourced from land used illegally. Palm oil, cocoa, beef, leather and soy will be covered by the proposed legislation.
“Globally, we lose forests equivalent to the size of about 30 football pitches every minute,” Environment Secretary Steve Barclay said in a statement Saturday. “It’s why we are cleaning up supply chains to make sure that big businesses in the UK aren’t responsible for illegal deforestation.”
Read more: How Europe Aims to Protect Rainforests Through Trade
Retaining forests is seen as a key to fighting climate change, and protecting biodiversity and endangered animals. In the UK, the so-called Environment Bill has been in the works since 2020. The key difference with the legislation passed by the EU this year is that it will ban the trade of goods grown on all newly deforested land anywhere in the world. The UK’s proposed law will target only illegal destruction of forest land.
Most Read from Bloomberg Businessweek
How the Biggest Boutique Fitness Company Turned Suburban Moms Into Bankrupt Franchisees
Salesforce Signals the Golden Age of Cushy Tech Jobs Is Over
At World Central Kitchen, José Andrés Is in the Middle of a Mess
Hottest Job in US Pays $80,000 a Year, No College Degree Needed
Argentina's New Libertarian Leader Softens His Economic Radicalism
©2023 Bloomberg L.P.