The EU delays its deforestation ban and major companies aren't happy about it.

Hello, this is the Marketplace Morning Report and we are live from the BBC World Service.

I'm Leanna Byrne.

The European Parliament has voted to delay and watered down a proposed ban on importing commodities like cocoa and soy linked to deforestation.

The one-year postponement came after pressure from some non-EU countries, including Brazil and the US.

Francesco Tramontan is vice president of Global Public Affairs of Ferreiro, the company behind

Nutella and Kinder.

Hello, Francesco.

Hello, good morning.

Good morning. What is your immediate

reaction to this delay? At Ferreiro, we are supportive of the UDR and legislation. As it builds on a long-standing

investment in traceability and strategic risk management with our suppliers. So we've been

supportive all through the legislation process.

So what happened now, some of the new amendments,

we actually revised the substance of the legislation,

is not something that we are welcoming.

The delay in itself, you know, there was a

proposed delay or 12 months that is okay in light of some administrative delays. So I think

that's not an issue in itself. What really worried us more is the reopening of some of the

substance of the legislation. So are your supply chains already compliant?

Well, we are working towards compliance by the end of the year. Anyway, that has been our target

and that remains our target. That's why anything that revises the substance, it's not welcome for us.

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