Daily Current Affairs : 24-November-2023
The 59th International Tropical Timber Council (ITTC) recently concluded on November 17, 2023, marking a significant milestone in the ongoing efforts to ensure the sustainable management of tropical forests globally. As the governing body of the International Tropical Timber Organisation (ITTO), the ITTC plays a pivotal role in promoting responsible practices in the trade of tropical timber.
About the ITTC
The ITTC convenes annually to address a comprehensive agenda centered on sustainable tropical forest management. Its primary objective is to foster the trade of timber sourced from sustainably managed forests, balancing economic interests with environmental conservation.
Major Decisions in the 59th ITTC Session
Project Endorsements
One of the key outcomes of the 59th ITTC session was the unanimous agreement to endorse eight projects related to sustainable forest management and associated objectives. This decision underscores the commitment of member nations to implement practical initiatives that contribute to the long-term health of tropical ecosystems.
Budget Approval
In a crucial move, the ITTC adopted a budget amounting to $7.1 million for the upcoming financial year 2024-25. This financial commitment reflects the collective dedication to supporting projects that align with the organization’s sustainable forestry goals.
Trial Measure
A notable decision involved the approval of a trial measure allowing ineligible members to submit project proposals and concept notes. Ineligible members can now submit one project and concept note for every two years of arrears paid, opening avenues for broader participation and collaboration.
Key Facts about the ITTO
Establishment and Objectives
Formed under the International Tropical Timber Agreement 1983 (ITTA 1983), negotiated under the UN Conference on Trade and Development, the ITTO aims to promote sustainable management and conservation of tropical forests. Simultaneously, it seeks to expand and diversify international trade in tropical timber sourced from sustainably managed and legally harvested forests.
Funding Facilitation
The ITTO facilitates funding for forestry projects in tropical timber-producing countries, relying on voluntary contributions from governments. This financial support is instrumental in implementing projects that contribute to the organization’s overarching objectives.
Membership and Headquarters
With 75 member countries, including India, collectively managing about 80 percent of the world’s tropical forests and responsible for 90 percent of the global tropical timber trade, the ITTO stands as a global collaborative effort. Its headquarters in Yokohama, Japan, serve as the hub for coordinating international initiatives aimed at sustaining tropical forests for the benefit of present and future generations.
Important Points:
- Major Decisions in the 59th ITTC Session:
- Project Endorsements:
- Agreement to endorse eight projects related to sustainable forest management.
- Budget Approval:
- Adoption of a budget of $7.1 million for the financial year 2024-25.
- Trial Measure:
- Approval of a trial measure allowing ineligible members to submit project proposals and concept notes.
- Project Endorsements:
- Key Facts about the International Tropical Timber Organisation (ITTO):
- Establishment and Objectives:
- Formed under the International Tropical Timber Agreement 1983 (ITTA 1983).
- Aims to promote sustainable management and conservation of tropical forests.
- Seeks to expand and diversify international trade in tropical timber from sustainably managed and legally harvested forests.
- Funding Facilitation:
- Facilitates funding for forestry projects in tropical timber-producing countries.
- Funding is provided through voluntary contributions from governments.
- Membership and Headquarters:
- 75 member countries, collectively managing 80 percent of the world’s tropical forests.
- Responsible for 90 percent of the global tropical timber trade.
- Headquarters located in Yokohama, Japan.
- Establishment and Objectives:
- Overall Significance:
- The decisions made at the 59th ITTC session demonstrate a commitment to practical initiatives for sustainable forest management.
- The approved budget reflects a financial dedication to supporting projects aligned with the organization’s goals.
- The trial measure allows broader participation and collaboration by permitting ineligible members to submit project proposals.
- Mission of ITTO:
- Strives to balance economic interests with environmental conservation in the trade of tropical timber.
- Aims to sustain tropical forests for the benefit of present and future generations.
- Collaborative Effort:
- ITTO comprises 75 member countries, including India, working collectively on global initiatives.
- The headquarters in Yokohama, Japan, serve as a hub for coordinating international efforts to sustain tropical forests.
Why In News
Recently, on November 17, 2023, the 59th International Tropical Timber Council (ITTC) concluded with major decisions, marking a pivotal moment in the global effort to address sustainable forestry practices and biodiversity conservation.
MCQs about 59th ITTC Session
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What was a significant outcome of the 59th ITTC session?
A. Adoption of a trial measure
B. Endorsement of twelve projects
C. Approval of a budget for 2023-24
D. Expansion of ITTO membership
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What is the primary purpose of the International Tropical Timber Organisation (ITTO)?
A. Advocating for deforestation
B. Promoting sustainable forest management
C. Encouraging illegal timber trade
D. Focusing on economic interests only
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Where is the headquarters of the International Tropical Timber Organisation located?
A. Geneva, Switzerland
B. Yokohama, Japan
C. Rio de Janeiro, Brazil
D. Nairobi, Kenya
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