International Tropical Timber Council: Budget Approved, Projects Opened

Context: 

• The 59th International Tropical Timber Council (ITTC) concluded recently which was held in Thailand.

Key Decisions at International Tropical Timber Council Council Session

• Budget: The session approved and adopted a budget of $7.1 million for the coming financial year 2024-25.
• Work programme for 2024-25: It was adopted which included a request to the executive director to collaborate closely with members of the Collaborative Partnership on Forests and other partners on implementation.
• Trial Measure: The council approved a trial measure that will allow ineligible members to submit project proposals and concept notes. 
  • Members who have fallen behind on their financial contributions and are thus ineligible will be allowed to submit one project and concept note for every two years of arrears paid. 

About International Tropical Timber Organisation (ITTO): 

• About: It is an intergovernmental organisation for promoting the sustainable management, restoration and conservation of tropical forests and trade in tropical forest resources including improved market intelligence. 

• Establishment: ITTO was established under the International Tropical Timber Agreement 1983 (ITTA 1983), negotiated under the auspices of the UN Conference on Trade and Development.
• Headquarters: It began operations in 1987 and its headquarters are located in Yokohama, Japan.
• Project Funding: It facilitates funding for forestry projects in tropical timber producing countries.All projects are funded by voluntary contributions from governments.
• Members: There are 75 member countries including EU, out of these countries, 37 are producer member countries and 38 are consumer member countries. India belongs to the group of the producing member countries. 

ITTO Projects in India:

• ITTO has funded a project titled ‘Establishment of network to facilitate collection, processing and dissemination of statistics pertaining to tropical timber and other forestry parameters in India. 

News Source: DTE