The Council and the European Parliament have reached a provisional agreement to reduce the risk of deforestation. The agreement imposes requirements on traders of palm oil, wood, coffee, cocoa, rubber and soy. The financial sector is not included. This is in line with what the Association and the Pension Federation have argued for in a previously published joint statement.
The Dutch Association of Insurers endorses the regulation. The financial sector can and must contribute to combating deforestation. However, this is not the right instrument for this. A broader European directive is already under development, the Corporate Sustainability Due Diligence Directive. Obligations for the financial sector in combating deforestation fit in better with this.
Read the previously published joint statement of the Association and the Pension Federation
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