Latest news with #DeforestationRegulation
Business Wire
24-06-2025
- Business
- Business Wire
Third Partners' Tailored EUDR Consulting Service Eases EU Deforestation Regulation Compliance for Mid-Sized U.S. Companies
MORRISTOWN, N.J. & MINNEAPOLIS--(BUSINESS WIRE)-- Third Partners, a boutique management consultancy specializing in data management and business performance improvement, designed a simplified process for U.S. companies to comply with the European Union's Deforestation Regulation (EUDR) ahead of the December 30 deadline. The niche: domestic companies exporting wood, beef, soy, packaging and other covered products. "The vast majority of U.S. companies can avoid turning EUDR into a trade barrier, and even gain a competitive economic advantage, by tackling supply chain data challenges in-house," said Adam Freedgood, co-founder at Third Partners. Share Third Partners' solution adapts to the specific capabilities of each company to solve data gaps, leveraging the latest EUDR policy revisions. Using personalized supply chain data acquisition, GIS mapping, satellite data, and AI-powered analytics capability, their process condenses an otherwise lengthy supply chain traceability and reporting process into a few easy steps. Mid-sized U.S. companies selling covered products to the EU market face stark legal and financial consequences by year-end. 'Companies hoping the EU will further ease these regulations are perilously close to running out of time,' said Adam Freedgood, co-founder of Third Partners. 'The vast majority of U.S. companies can avoid turning EUDR into a trade barrier, and even gain a competitive economic advantage, by tackling supply chain data challenges in-house,' said Freedgood. 'We tailored our EUDR solution to middle market companies telling us they 'just need it done.' If you're large enough to be caught up in EUDR requirements, but don't ship thousands of container loads to the EU there was no right-sized solution until now,' said Freedgood. Third Partners' EUDR compliance process is collaborative and meets each company where they are with supplier relationships, geodata processing expertise, and knowledge of the regulation. 'We run a preliminary risk assessment report in week one, a targeted due diligence plan in week two, and then take it from there,' said Freedgood. Companies achieve confidence that they can generate Due Diligence Statements (DDS) by December 30 and have a clear ongoing process to stay compliant. EUDR is not the first regulation and certainly not the last to require sub-tier supply chain mapping and risk assessment. 'From over a decade of consulting experience we know mid-sized companies get the best results when they strengthen in-house capabilities. Developing environmental risk management tools and processes internally helps firms compete globally with larger peers while reducing the costs of unmitigated risks,' said Freedgood. "EUDR policy uncertainty has led to a market flooded with inflated compliance products that rarely deliver on promises of easy implementation,' Freedgood noted, 'With EUDR companies cannot simply send a last minute survey to suppliers and hope for the best.' Third Partners offers step-by-step support to digitally map forests and farms, fix gaps in supplier data, and prepare the hundreds of geoJSON (GIS files) for a company to generate the Due Diligence Statements required to export to the EU market. Companies that work with Third Partners on EUDR, or any environmental risk data challenge, get the same thing every time — a lightweight but rigorous solution leveraging existing business data, people, and systems. About Third Partners Third Partners is a full-service sustainability management consulting firm in business since 2013. We support C-suite executives and managers at global brands, middle market leaders, and high growth startups to build more valuable and resilient companies. We achieve results by offering strategic advisory, data management, and tailored solutions backed by training and technology advisory. Our clients seek to eliminate risks to brand, product, and mission, ensuring they meet evolving expectations of buyers, investors, and customers. About the EU Deforestation Regulation EUDR is global trade policy that reflects the urgency of reversing commodity-linked deforestation. It covers a massive number of U.S. companies, including those that use, produce, or trade commodities linked to deforestation, including cattle, cocoa, coffee, palm oil, soy, rubber and wood. Consequences of non-compliance include fines, confiscation of revenues, and temporary prohibitions from operating in the EU.
Economic Times
23-06-2025
- Business
- Economic Times
India's crude oil imports hit record high, up nearly 10% m/m in May
India is preparing its coffee exporters to comply with the EU's upcoming Deforestation Regulation (EUDR), despite being classified as a low-risk country. The Coffee Board is implementing a grower registration model and geo-location mapping to meet the regulation, which bans products grown on deforested land post-December 31, 2020. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads By the numbers India's crude oil imports reached a record 23.32 million metric tons in May, up 9.8% month-on-month, government data showed on data highlights demand in India, the world's third-largest importer and consumer of oil, reflecting the broader economic and industrial activities driving fuel demand rose to 21.32 million metric tons in May, its highest in more than a year, Oil Ministry data showed this will take measures to safeguard domestic fuel supplies, oil minister Hardeep Singh Puri said on Sunday, after U.S. attacks on Iran's nuclear sites over the weekend raised the risk of disruption to Middle Eastern oil and gas, leading to soaring energy prices jumped on Monday to their highest since share of Russian oil in India's imports in May declined marginally as refiners cut purchases from Moscow by 15.7% to 1.7 million barrels per day (bpd), tanker data from trade and industry sources a yearly basis, crude oil imports climbed 5.9% from 22.03 million metric tons in May 2024, according to data from the Petroleum Planning and Analysis Cell (PPAC).Imports of crude oil products fell by about 3.9% on a yearly basis to 4.20 million tons in May, while product exports rose more than 7% to 5.63 million tons.
Time of India
23-06-2025
- Business
- Time of India
Coffee Board preps exporters to comply with EU deforestation rules
Talks are in progress with the EU on the bloc's Deforestation Regulation (EUDR) and Indian coffee exporters are preparing for the upcoming rules, an official said Thursday. India is working on a grower-registration model and collecting geo-location data for exporters to comply with the EUDR even though the country is categorised as a low-risk country. 'We are preparing the exporters. We are engaging with them so that there are no challenges,' said M Kurma Rao, CEO, Coffee Board. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo The Coffee Board has been doing polygon mapping which is mandatory for plots larger than four hectares wherein companies provide the geolocation points of the plots of land where the coffee comes in their due diligence statements. The EUDR requires firms to ensure that products exported to the EU have been grown on land which has not been deforested after December 31, 2020. Live Events The regulation has implications for India's coffee, cocoa, soya, wood products, rubber and its products and leather goods exports. It prescribes fines up to 4% of a firm's annual turnover in the EU and confiscation of products and revenues gained from a transaction for non-compliance. Exports push Led by value-added goods especially instant coffee, India's coffee exports rose 40.2% on-year in FY25 to $1.8 billion. India's coffee exports grew at a CAGR of 22.52% in the last five years. 'We export 70% of our production,' Rao said, adding that India is exporting coffee to over 120 countries. The share of value added coffee exports in the total coffee exports have increaoed to 38% during FY25 with Italy, Russia, the UAE, Germany and Turkey being the major coffee export destinations. Korea and members of the Gulf Cooperation Council are the new markets. The Coffee Board has developed the India Colfee App, a one stop solution to avail all the products, services and information of its stakeholders on real time basis. Efforts are also on to increase the area under coffee cultivation, officials said.
Time of India
20-06-2025
- Business
- Time of India
ISRO, Coffee Board tie up to assess coffee's carbon footprint
The Indian Space Research Organisation ( ISRO ) is helping the Coffee Board of India to quantify the carbon footprint of coffee and assess the carbon sequestration potential of the crop. 'Collaborative studies with Isro have been initiated to quantify carbon sequestration in shaded coffee plantations in India,' said M Senthil Kumar, director of research, Coffee Board, adding that Isro is collecting data. The aim is to quantify the carbon footprint of coffee in the backdrop of the EU's Deforestation Regulation, which requires firms to ensure that products exported to the EU have been grown on land which has not been deforested after December 31, 2020. The regulation has implications for India's coffee, cocoa, soya, wood products, rubber and its products, and leather goods exports. For non-compliance, it prescribes fines up to 4% of a firm's annual turnover in the EU and confiscation of products and revenue gained from a transaction. Senthilkumar said that nutrient formulations and organic supplements have been evolved for sustainable coffee nutrition, and these initiatives have led to India's coffee exports in FY25 rising by 40% year-on-year to $1.8 billion. India's coffee production reached 363,000 tonnes in FY24. 'We have come out with a formulation to improve yield and increase the number of berries and retention of berries. There are three high yielding varieties on which the Coffee Board is doing multi location trials,' he said. The board has released 13 Arabica and 3 Robusta varieties of coffee and will be applying for geographical indications for two varieties. At present, GI tags are granted for Coorg Arabica, Bababudangiri Arabica, Chikmagalur Arabica, Araku Valley, and Wayanad Robusta coffees. Officials said that 490,000 hectares of land is under coffee plantation across 12 states, of which 30% is Arabica variety and 70% is Robusta.
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Business Standard
11-06-2025
- Business
- Business Standard
Centre sets up a new task force to boost country's textile exports
In a bid to enhance India's textile exports at a time when the country is signing trade deals with developed nations, the government has set up a new task force that will look into sector-specific bottlenecks such as regulatory hurdles, cost competitiveness and lack of enough export credit. Commerce Secretary Sunil Barthwal has been appointed as the chair of the task force with representation from officials of Department of Commerce, Ministry of Textiles, Directorate General of Foreign Trade, along with representatives from export promotion councils, industry associations and exporters. In its first meeting, the task force decided to set up several issue-specific sub-groups, which will be led by relevant ministries in coordination with export promotion councils and industry representatives. These sub-groups will provide actionable recommendations to the task force, the commerce and industry ministry said. The discussion touched upon a wide range of issues affecting the textile value chain. These included upgradation of Environmental, Social and Governance infrastructure in garment manufacturing, use of renewable energy in manufacturing, European Union's Deforestation Regulation (EUDR), strengthening e-commerce for export growth, labour issues, cost competitiveness for productivity enhancement, skilling, and branding. Participants also raised issues with export-related incentives such as RoDTEP (Remission of Duties and Taxes on Exported Products) and RoSCTL (Rebate of State and Central Taxes and Levies). They also sought collateral support for export credit for MSMEs. Stakeholders also discussed PM MITRA textile parks, development of new Jute Diversified Products (JDPs), separate harmonised system (HS) codes for Geographical Indication products, productivity enhancement for natural fibres such as jute and matters about the Export Promotion Mission.
