A recent report in the Financial Times highlights the concerns of UK supermarkets about aligning their supply chains with new EU rules on deforestation.
With the clock ticking, companies have a narrow window to adapt. This is where the Technology Enabled Trading Alliance (TETA) offers a timely solution. Comprising industry leaders like Trade In Space, Bia Analytical, Vetaverse, Customs Plus, and ubloquity, TETA provides an integrated approach to compliance that is in sync with evolving international standards.
The Deforestation Challenge and Regulatory Gaps.
The Financial Times report underscores the supermarkets’ call for the UK government to expedite legislation that mandates “deforestation-free supply chains.” Despite the 2021 Environment Act, secondary legislation to enforce compliance is still pending. This leaves UK supply chains exposed, especially with the EU’s stringent regulations set to take effect at the end of 2024. The absence of a unified due diligence system further complicates matters, making it imperative for businesses to seek alternative compliance solutions.
The Road Ahead…
The Financial Times report serves as a wake-up call for UK businesses. As EU regulations loom, the need for a unified, transparent, and efficient compliance system is urgent. TETA offers a collaborative approach that can help UK companies not just navigate but thrive in this complex regulatory landscape. In a world where proving compliance is as crucial as claiming it, TETA provides a roadmap for success.
Join us in this transformative journey to make compliance a cornerstone of your business strategy, ensuring alignment with both domestic and international standards.
Reference FT article: https://www.ft.com/content/dc6a3d54-5235-44b6-9f14-fc321a5d0754