Latest news with #DiDomenico
Business Insider
7 hours ago
- Business
- Business Insider
Snacks Giant Mondelez (MDLZ) Urges EU Deforestation Delay
Chocolate and snacks maker Mondelez International (MDLZ) has called on the European Union to delay its new deforestation law. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Be Real Although keen to stress its support of the EU Deforestation Regulation or EUDR in principle, Massimiliano Di Domenico, vice president of corporate and government affairs for Europe at Mondelez, is seeking a one-year delay in its implementation. Mondelez, whose brands include Cadbury chocolate, has urged EU policymakers to take into account 'on-the-ground realities.' Di Domenico said the cocoa sector is 'under huge pressure' due to soaring prices, declining production, and digital infrastructure gaps in origin countries which could affect compliance and disrupt supply chains. 'That's why we are respectfully, transparently and responsibly calling for a 12-month delay — not to dilute ambition, but to enable practical, inclusive, and effective implementation,' Di Domenico said. Clearer Guidance Di Domenico has been busy delivering these comments at the European Parliament and later on LinkedIn, according to a Reuters report. The proposed law, which aims to end 10% of global deforestation fueled by EU consumption, requires companies and traders importing soy, beef, cocoa, coffee and related products to prove their supply chains do not contribute to the destruction of the world's forests, or face hefty fines. Last July, Reuters reported that Nestle (NSRGY), Mars Wrigley, and Ferrero backed the law in a joint paper. However, they also urged Brussels to provide clearer guidance and support to help companies meet the compliance deadline. The EU has already delayed its launch by a year to December 2025 and cut back reporting rules. Is MDLZ a Good Stock to Buy Now? On TipRanks, MDLZ has a Moderate Buy consensus based on 14 Buy and 5 Hold ratings. Its highest price target is $81. MDLZ stock's consensus price target is $72.88 implying a 5.64% upside.
The Sun
a day ago
- Business
- The Sun
Cadbury parent Mondelez seeks EU deforestation law delay
CADBURY chocolate maker Mondelez is urging a one-year delay in the implementation of the European Union's deforestation law, a senior company executive said. The company supports the EU Deforestation Regulation (EUDR) in principle, Massimiliano Di Domenico, vice president of corporate and government affairs for Europe said, but urged policymakers to account for 'on-the-ground realities.' Di Domenico was speaking at the European Parliament last week and later posted his comments on LinkedIn. In July last year, Reuters reported that Nestle, Mars Wrigley, and Ferrero backed the law in a joint paper, while urging Brussels to provide clearer guidance and support to help companies meet the compliance deadline. The proposed law, which aims to end 10% of global deforestation fuelled by EU consumption, requires companies and traders importing soy, beef, cocoa, coffee and related products to prove their supply chains do not contribute to the destruction of the world's forests, or face hefty fines. Di Domenico said the cocoa sector is 'under huge pressure' due to soaring prices, declining production, and digital infrastructure gaps in origin countries which could affect compliance and disrupt supply chains. 'That's why we are respectfully, transparently and responsibly calling for a 12-month delay — not to dilute ambition, but to enable practical, inclusive, and effective implementation,' Di Domenico said in his post. The EU has already delayed its launch by a year to December 2025, following complaints from trading partners including Brazil and the U.S., and cut back reporting rules after industry criticism. - Reuters
RTÉ News
a day ago
- Business
- RTÉ News
Cadbury-parent Mondelez calls for delay to EU deforestation law
Cadbury chocolate maker Mondelez is urging a one-year delay in the implementation of the European Union's deforestation law, a senior company executive said. The company supports the EU Deforestation Regulation (EUDR) in principle, Massimiliano Di Domenico, vice president of corporate and government affairs for Europe said, but urged policymakers to account for "on-the-ground realities." Di Domenico was speaking at the European Parliament last week and later posted his comments on LinkedIn. In July last year, Reuters reported that Nestle, Mars Wrigley, and Ferrero backed the law in a joint paper, while urging Brussels to provide clearer guidance and support to help companies meet the compliance deadline. The proposed law, which aims to end 10% of global deforestation fuelled by EU consumption, requires companies and traders importing soy, beef, cocoa, coffee and related products to prove their supply chains do not contribute to the destruction of the world's forests, or face hefty fines. Di Domenico said the cocoa sector is "under huge pressure" due to soaring prices, declining production, and digital infrastructure gaps in origin countries which could affect compliance and disrupt supply chains. "That's why we are respectfully, transparently and responsibly calling for a 12-month delay - not to dilute ambition, but to enable practical, inclusive, and effective implementation," Di Domenico said in his post. The EU has already delayed its launch by a year to December 2025, following complaints from trading partners including Brazil and the US, and cut back reporting rules after industry criticism.
