At a time when sustainability and environmental responsibility are at the heart of global business practices, the European Union has introduced the EU Deforestation Regulation (EUDR) to combat deforestation and promote sustainable supply chains.
Initially targeting deforestation-related commodities such as soy, beef, palm oil, timber, cocoa and coffee, the regulation requires companies to guarantee that their products are deforestation-free.
As companies prepare to navigate these new regulatory waters, MyTower is ready to support them with robust compliance solutions.
Key EUDR requirements
Due diligence: Companies must carry out thorough due diligence to ensure that their supply chains are free from deforestation. The due diligence process must go right back to the initial parcel of supply.
Reporting: A detailed report is required to demonstrate compliance, including origins (with geolocation) and sourcing practices for commodities. This report must be filed on the dedicated EU platform, respecting the data set provided.
Traceability: Companies need to establish traceability systems to track commodities from origin to end product. This includes tracking raw materials in the production process for certain products.
Risk mitigation: Companies must implement risk mitigation measures to address any identified risk of deforestation in their supply chains.
This new regulation introduces traceability requirements comparable to those found in a number of other industries (food, jewelry, etc.).
The Challenges Ahead: Why Preparation is Crucial
Preparing for EUDR presents several challenges for companies, particularly those with complex global supply chains. The need for transparency, traceability and rigorous documentation can be daunting.
Companies need to review their sourcing practices, collaborate with suppliers and invest in technologies to track and verify the origins of their products. The scale of regulation requires companies to gain visibility of higher-tier suppliers.
Common challenges :
Complex supply chains: Tracing products through multi-level supply chains can be complex and resource-intensive. It also raises confidentiality issues.
Data Management: Collecting, managing and reporting accurate commodity supply data is crucial to compliance.
Supplier engagement: Working with suppliers to ensure sustainable practices and compliance with EUDR standards.
Technological investment: Implement advanced tracking and monitoring tools to maintain supply chain transparency.
How MyTower Can Help : Your Partner for EUDR Compliance
MyTower offers a comprehensive suite of solutions designed to help companies navigate the complexities of supply chains.
With our expertise in supply chain management and regulatory compliance, we provide the tools and support you need to ensure your company meets the stringent requirements of the EUDR.
1. Data management and reporting
MyTower has leveraged the existing platform to automate interactions with customs brokers (Customs Broker Management) and collaboration features for supplier campaigns (Origin Management) to create a solution that makes it easy to collect DDSs (Due Diligence Declarations) from suppliers and other parties, store them in a standardized way and share the relevant information with customs brokers.
The platform is also able to provide the required information to the EU with direct connectivity to the EUDR portal.
2. Advanced Traceability Solutions for Production Processes in the European Union
Thanks to MyTower's expertise in managing customs procedures, including complex inward processing, we were able to use existing, proven technology to ensure the link between raw material DDSs and finished product DDSs.
Our solution connects to an ERP or production system to interpret movements and ensure DDS continuity.
3. Precise Data Management and Reporting
Accurate data management is crucial to EUDR compliance. MyTower's platform streamlines the collection, management and reporting of your commodity supply data.
Our intuitive dashboards and reporting tools make it easy to track compliance indicators and generate detailed reports for regulatory authorities.
4. Consulting and Expert Support
Navigating new regulations can be difficult, but you don't have to do it alone. MyTower offers expert consulting and support to guide you through the EUDR compliance process.
Our team of specialists is available to answer your questions, provide advice and help you implement effective compliance strategies.
Conclusion: Adopt sustainability with MyTower
As the EUDR ushers in a new era of sustainability and environmental responsibility, companies need to be proactive in preparing for compliance. MyTower is here to support you every step of the way, providing the tools and expertise you need to build transparent, deforestation-free supply chains.
By partnering with MyTower, you can ensure that your company not only complies with regulatory requirements, but also contributes to the global effort to protect forests and promote sustainable practices.
Anticipate and embrace sustainability with MyTower. Contact us today to find out more about our EUDR compliance solutions and how we can help your business thrive in this new regulatory landscape.
