Palm oil is an edible vegetable oil derived from the mesocarp of the fruit of oil palms. The oil is used in food manufacturing, in beauty products, and as biofuel. Palm oil accounted for about 36% of global oils produced from oil crops in 2014. Palm oils are easier to stabilize and maintain quality of flavor and consistency in ultra-processed foods, so they are frequently favored by food manufacturers. Globally, humans consumed an average of 7.7 kg (17 lb) of palm oil per person in 2015. Demand has also increased for other uses, such as cosmetics and biofuels, encouraging the growth of palm oil plantations in tropical countries.
Dumping, in economics, is a form of predatory pricing, especially in the context of international trade. It occurs when manufacturers export a product to another country at a price below the normal price with an injuring effect. The objective of dumping is to increase market share in a foreign market by driving out competition and thereby create a monopoly situation where the exporter will be able to unilaterally dictate price and quality of the product. Trade treaties might include mechanisms to alleviate problems related to dumping, such as countervailing duty penalties and anti-dumping statutes.
Illegal logging is the harvest, transportation, purchase, or sale of timber in violation of laws. The harvesting procedure itself may be illegal, including using corrupt means to gain access to forests; extraction without permission, or from a protected area; the cutting down of protected species; or the extraction of timber in excess of agreed limits. Illegal logging is a driving force for a number of environmental issues such as deforestation, soil erosion and biodiversity loss which can drive larger-scale environmental crises such as climate change and other forms of environmental degradation.
A geographical indication (GI) is a name or sign used on products which corresponds to a specific geographical location or origin. The use of a geographical indication, as an indication of the product's source, is intended as a certification that the product possesses certain qualities, is made according to traditional methods, or enjoys a good reputation due to its geographical origin.
Know your customer (KYC) guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations.
Markets in Financial Instruments Directive 2014, is a directive of the European Union (EU). Together with Regulation No 600/2014 it provides a legal framework for securities markets, investment intermediaries, in addition to trading venues. The directive provides harmonised regulation for investment services of the member states of the European Economic Area — the EU member states plus Iceland, Norway and Liechtenstein. Its main objectives are to increase competition and investor protection, as well as level the playing field for market participants in investment services. It repeals Directive 2004/39/EC.
Fern is a Dutch foundation created in 1995. It is an international Non-Governmental Organization (NGO) set up to keep track of the European Union's (EU) involvement in forests and coordinate NGO activities at the European level. Fern works to protect forests and the rights of people who depend on them.
The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international legal agreement between all the member nations of the World Trade Organization (WTO). It establishes minimum standards for the regulation by national governments of different forms of intellectual property (IP) as applied to nationals of other WTO member nations. TRIPS was negotiated at the end of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) between 1989 and 1990 and is administered by the WTO.
A Voluntary Partnership Agreement (VPA) is a bilateral timber-trade agreement between the European Union and a timber-exporting country outside the EU. VPAs are a key element of the EU FLEGT Action Plan, which aims to address illegal logging.
The European Union (EU) Environmental Policy was initiated in 1973 with the "Environmental Action Programme" at which point the Environmental Unit was formed. The policy has thereafter evolved "to cover a vast landscape of different topics enacted over many decades" (Reuters) and in 2015 the Institute for European Environmental Policy estimated that "the body of EU environmental law" amounted to 500+ directives, regulations and decisions.
"Over the past decades the European Union has put in place a broad range of environmental legislation. As a result, air, water and soil pollution has significantly been reduced. Chemicals legislation has been modernised and the use of many toxic or hazardous substances has been restricted. Today, EU citizens enjoy some of the best water quality in the world"
National identity cards are identity documents issued to citizens of most European Union and European Economic Area (EEA) member states, with the exception of Denmark and Ireland. As a new common identity card model replaced the various formats in use from 2 August 2021, recently issued ID cards are harmonized across the EEA, while older ID cards are currently being phased out according to Regulation (EU) 2019/1157.
The General Data Protection Regulation, abbreviated GDPR, or French RGPD is a European Union regulation on information privacy in the European Union (EU) and the European Economic Area (EEA). The GDPR is an important component of EU privacy law and human rights law, in particular Article 8(1) of the Charter of Fundamental Rights of the European Union. It also governs the transfer of personal data outside the EU and EEA. The GDPR's goals are to enhance individuals' control and rights over their personal information and to simplify the regulations for international business. It supersedes the Data Protection Directive 95/46/EC and, among other things, simplifies the terminology.
The European Union banned seal products in 2009 for reasons of animal welfare. The ban was a continuation of a sealskin ban by the European Economic Community imposed in 1983.
The European Union Forest Law Enforcement, Governance and Trade Action Plan is a European Union initiative to address illegal logging and the social, economic and environmental harm it causes. The EU adopted the Action Plan in 2003. The plan includes activities in the EU and in tropical countries that export timber and timber products to the EU. These measures include a regulation that prohibits EU businesses from importing or trading illegal timber, and bilateral trade agreements with timber-exporting countries. Much of the FLEGT Action Plan focuses on promoting trade in legal timber products and creating disincentives for trade in illegal products. However, the Action Plan's measures go further by addressing aspects of poor governance that enable illegal logging to persist.
The European Union Timber Regulation (EUTR) aims to counter illegal logging and associated trade in timber and timber products in the member states of the European Union, and ultimately contribute to sustainable management of forests and reduced emissions from deforestation and forest degradation beyond EU borders. The EUTR establishes obligations on 'operators' who place timber and timber products on the market and on 'traders' who buy or sell timber or timber products already on the internal market.
The United Kingdom's post-Brexit relationship with the European Union and its members is governed by the Brexit withdrawal agreement and the EU–UK Trade and Cooperation Agreement. The latter was negotiated in 2020 and has applied since January 2021.
The Rail Passenger Rights Regulation 2021 (EU) 2021/782 gives railway passengers basic rights in EU law to refunds and minimum levels of service. As a regulation, it has mandatory application without the need for implementing legislation. Before this many countries, such as the United Kingdom, had no rights set in law for rail passengers. The Regulation creates minimum rights which every member state law, and every rail undertaking, may improve upon.
The Brussels effect is the process of unilateral regulatory globalisation caused by the European Union who de facto externalizes its laws outside its borders through market mechanisms. Through the Brussels effect, regulated entities, especially corporations, end up complying with EU laws even outside the EU for a variety of reasons. The effect is named after the city of Brussels, the de facto capital of the European Union.
The European Union–Mercosur free trade agreement is a proposed free trade agreement on which the European Union and Mercosur reached agreement in principle in 2019. The planned deal was announced on 28 June at the 2019 G20 Osaka summit after twenty years of negotiations. The agreement is praised but also criticized by NGOs, scientists, unions, farmers and indigenous people with both positive and negative aspects usually balanced during discussions.
The EU Carbon Border Adjustment Mechanism is a carbon tariff on carbon intensive products, such as steel, cement and some electricity, imported to the European Union. Legislated as part of the European Green Deal, it takes effect in 2026, with reporting starting in 2023. CBAM was passed by the European Parliament with 450 votes for, 115 against, and 55 abstentions and the Council of the EU with 24 countries in favour. It entered into force on 17 May 2023.
