Regulation (EU) 2024/1991 of 24 June 2024 on nature restoration has been published today in the Official Journal of the European Union. It enters into force on 18 August 2024 and is directly applicable in all Member States. The new Regulation sets out binding rules and targets to restore ecosystems, with the goals of ensuring recovery of biodiverse and resilient nature and contributing to climate change mitigation and adaptation. It covers terrestrial, coastal and freshwater ecosystems, as well as marine ecosystems. It builds on existing environmental law, and it addresses the infrastructure development that is presumed to be of overriding public interest.
We looked at the agreed text of the Regulation in a briefing available here: Where Nature Restoration meets Infrastructure Development: Council approves new Regulation – Arthur Cox LLP We remarked that, for entities at the forefront of integrating ESG considerations into their decision-making processes, including biodiversity measures from an early stage of project development is not new. Even so, it will be prudent for developers to diligence the technical provisions (in relation, for example, to biodiversity indicators), given that this Regulation will set a framework for progress on biodiversity across the EU.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.