The European Union’s Deforestation Regulation is a massive body of text with wide-ranging implications for many businesses globally.
We have gathered the most frequently asked questions about the Regulation and LiveEO’s Compliance Solution for you here. We will keep expanding this list, so maybe bookmark this page for future reference.
What products and commodities are covered by the EU Deforestation Regulation?
The EU Deforestation Regulation covers cattle, palm oil, soy, cocoa, rubber, coffee, and timber, as well as their derivatives.
How does the regulation affect importers and exporters within the EU?
The regulation requires importers and exporters within the EU to establish a due diligence system, ensure traceability of the covered commodities, and prove that their products do not contribute to deforestation or forest degradation.
What are the penalties for non-compliance with the regulation?
Penalties for non-compliance include fines of up to 4% of the company's annual revenue, reputational damage, and potential exclusion from the EU market.
What is the role of due diligence in ensuring compliance with the regulation?
Due diligence involves identifying, assessing, and mitigating the risk of deforestation and forest degradation in the supply chain and ensuring compliance with the regulation.
How can I determine if my company is affected by the EU Deforestation Regulation?
To determine if your company is affected, examine your supply chain and products containing the covered commodities and their derivatives, and assess your position in the supply chain.
What are the key traceability and documentation requirements for proving compliance?
Key traceability and documentation requirements include providing information on the product's origin, ensuring legality, and retaining records of due diligence procedures.
How does the regulation impact small and micro-undertakings?
The regulation applies to all companies, irrespective of size. However, the implementation may vary depending on the company's size, scale of operations, and position in the supply chain.
How does AI-powered satellite monitoring work, and how can it help my company ensure compliance?
AI-powered satellite monitoring uses advanced analytics to process satellite imagery, enabling near-real-time detection of potential deforestation risks and facilitating timely decision-making for compliance.
What are the advantages of using LiveEO's deforestation monitoring solution over traditional monitoring methods?
We designed our EUDR Compliance Solution with user-friendliness in mind, ensuring ease of use for both supply chain managers and their suppliers. Absolute confidentiality and data security are guaranteed, with stringent measures in place to prevent data leakages and unauthorized access. Our solution is compatible with all affected commodities, benefiting from LiveEO's sophisticated vegetation species recognition algorithms. It ensures full traceability of commodities along the entire supply chain, fostering transparency and accountability
How can LiveEO's solution be integrated with my existing supply chain management system?
Yes, LiveEO's Solution can be seamlessly integrated with existing supply chain management systems via API, enhancing the effectiveness of the compliance process.
How does LiveEO's solution provide near-real-time data on potential deforestation risks?
LiveEO's solution processes satellite imagery in near-real-time, providing timely alerts on potential deforestation risks, enabling proactive decision-making and risk mitigation.
What kind of support and assistance does LiveEO provide to companies implementing its solution?
LiveEO provides support and assistance through onboarding, training, ongoing customer support, and technical assistance to ensure a smooth implementation of its solution.
How does LiveEO ensure the accuracy and reliability of its satellite monitoring data?
LiveEO ensures accuracy and reliability by using advanced analytics, machine learning algorithms, and high-quality satellite imagery from trusted providers.