ImpactBuying Transparency Solution: Your Automated Solution for Compliance with EU Regulations
The EU Deforestation Regulation (EUDR) aims to ensure sustainable supply chains that protect forests and biodiversity worldwide. Compliance with this regulation is crucial for companies committed to responsible and transparent business practices. Our solution helps you meet EUDR requirements, ensuring that your supply chain remains free from deforestation
What is the EUDR
The EU Deforestation Regulation (EUDR) will take effect on December 30, 2024. The European Union Deforestation Regulation (EUDR) will require companies to ensure that their products do not contribute to deforestation or forest degradation.
Which products are affected by EUDR
The EU Deforestation Regulation (EUDR) targets several key products associated with deforestation risks. This includes soy, palm oil, cosmetics, timber, beef, cocoa, coffee and rubber.
Are you affected by the EUDR?
If your company operates in the sectors mentioned above, you are required to demonstrate that your supply chains are free from deforestation and that your products meet the stringent criteria set by the EUDR. Compliance deadlines are approaching quickly, and companies must ensure they meet these requirements to continue trading within the EU market.
How we can support you
We’ve developed a comprehensive six-step approach to EUDR compliance, designed to simplify and streamline the process for your business. Our strategy includes:
- Mapping HS Codes: Identifying and categorizing products at risk to ensure full compliance.
- Leveraging AI for Automation: Enhancing efficiency and accuracy in processing and verifying compliance data.
- Using a Dedicated Verification Team: Ensuring precision at every step, with experts who thoroughly review and validate each phase of the process.
We also continuously monitor regulatory updates to keep our tools up-to-date, ensuring that your business stays compliant as new requirements emerge. Our EUDR module, seamlessly integrated into our current platform, provides a cost-effective and efficient solution to help you navigate the complexities of the regulation.
Time Line
August/September 2024: Initial Setup
- Develop EUDR Policy and Handbook.
- Map and connect HS Codes to suppliers and products.
September – November 2024: Supplier Due Diligence
- Use the EUDR Module to perform supplier due diligence checks and risk ranking.
September 2024: Regulatory Clarity
- Await the release of updated FAQ and EUDR guidelines, which will clarify the level of verification required for due diligence statements (DDS).
September/October 2024: IT Development Finalization
- Based on new guidelines, finalize IT developments for the EUDR verification tab, including integration with the EU information system API.
October 2024: Activation of EUDR Compliance Features
- Activate the EUDR tab for suppliers with products in scope.
- Request DDS statements for each product or batch from relevant suppliers.
December 30, 2024: Application Deadline for EU Businesses
- Ensure all compliance measures are in place before the application deadline.
Benefits of ImpactBuying’s EUDR Solution
End-to-End Compliance
Create transparency until farmer and beyond, and have the needed insights.
Guided Processes
Our system provides a clear, step-by-step guide through the necessary procedures to meet EUDR due diligence requirements.
Automated Workflows
We streamline complex compliance tasks with automated workflows, enhancing both efficiency and accuracy.
Fast Implementation
Quickly integrate existing supplier data and utilize predefined templates and configurations to expedite the compliance process.
Adaptable to Businesses of All Sizes
Whether you’re managing a few or thousands of suppliers, our solution is adaptable to companies of all sizes, ensuring a smooth path to compliance.
Integrated ESG Strategy
Leverage our comprehensive solutions to align with broader ESG regulations, using insights from various integrated modules.
