With the new European Union Deforestation Regulation (EUDR) soon to be replacing the European Union Timber Regulation (EUTR), we decided to speak to Importers across the UK, Italy, France, Belgium and Austria to understand their level of preparedness for the incoming legislation, their attitudes to traceability solutions to meet these new due diligence requirements, as well as barriers and concerns.
Launched today, the research revealed that whilst 74% of timber importers are not yet prepared for the upcoming changes in regulation, 72% are in fact keen to get ahead. However, what is holding them back is their misplaced fears and lack of understanding of how traceability solutions, such as Distributed Ledger Technology, (DLT), can support them. However, interestingly, concerns are quite evenly spread, showing that changing regulations and emerging technologies are equally as troublesome for those working in what is traditionally, quite a paper based industry.
Other key findings include:
Check out our report today for more industry insights, country breakdowns and tips on how DLT can help Importers prepare for these upcoming regulations.