International Tropical Timber Council (ITTC)

23.11.2023

International Tropical Timber Council (ITTC) , Daily Current Affairs, RACE IAS : Best IAS Coaching in Lucknow

Why in the news?                        

The recently held 59th International Tropical Timber Council concluded with major decisions including its expansion.

Important points:

• The 59th International Tropical Timber Council (ITTC) was held in Pattaya, Thailand in 2023.
• Also approved and adopted a $7.1 million budget for fiscal year 2024-25.

About ITTC:

• It is the governing body of the International Tropical Timber Organization (ITTO).
• The ITTC is a group that meets at least once a year to discuss a broad agenda aimed at promoting sustainable tropical forest management and trade in sustainably produced tropical timber.
• ITTC comprises members of all 75 ITTOs.
• ITTC is assisted by 4 committees.
  • Committee on Economics, Statistics and Markets.
  • Reforestation and Forest Management Committee.
  • Forest Industry Committee.
  • Finance and Administration Committee.

Objective of ITTC:

• Promote sustainable tropical forest management and trade in sustainably produced tropical timber
• Develop forest-related policies and approve and finance field-level projects.

International Tropical Timber Organization (ITTO):                                            

• The International Tropical Timber Organization is an organization that promotes the sustainable management and conservation of tropical forests.
• The International Tropical Timber Organization was formed in 1986.
• The organization was established under the International Tropical Timber Agreement (ITTA), which was sponsored by the United Nations Conference on Trade and Development and ratified in 1985.
• Its headquarters is located in Yokohama, Japan.
• It is an intergovernmental organization based on the International Tropical Timber Convention, 2006 which came into force in 2011.
• It consists of 75 members including India and the European Union.
• ITTO's membership represents approximately 90% of the global tropical timber trade and more than 80% of the world's tropical forests.

Objective :

• To promote sustainable forest management (SFM) and conservation of tropical forests.
• Expand and diversify international trade in tropical timber from sustainably managed and legally harvested forests.

Structure:

The overall administrative structure is known as the International Tropical Timber Organization (ITTO) which is composed of the following elements:

• International Tropical Timber Council (ITTC)
• three standing committees
• Economic Information and Market Intelligence Committee (PCM)
• Reforestation and Forest Management Committee (PCF)
• Forest Industries Committee (PCI).
• Executive director and staff based in Yokohama, Japan.

Work :

• The ITTC serves as the principal political body of the organization.

The ITTC coordinates the work of the three standing committees and performs all necessary functions to carry out the provisions of the ITTA.