Significant Developments In European Union Environmental Legislation

Recent Developments

Climate change is reshaping production and trade globally, and the effects of climate change on the one hand and new trends in the global trade system on the other have become the main drivers of developments in the world economy. Since economic activities are the most major contributor to global warming, certain restrictions are stipulated and improvements are targeted in all processes causing global warming, particularly carbon emissions. Within the scope of the European Green Deal ("EGD"), the European Union (EU) is introducing regulations in many areas to address climate change with a holistic approach.

In this regard, there have been important developments in EU environmental legislation in recent weeks. The European Commission, i) published the Carbon Border Adjustment Mechanism ("CBAM") Self Assessment Tool, and ii) postponed the effective dates of the Regulation (EU) 2023/1115 on Deforestation-free Products ("EUDR").