JAKARTA, July 2 (Xinhua) -- The Indonesian government will shift the forestry sector's business model from timber-based production to a multi-business forestry approach to accelerate the development of a green bioeconomy, the country's Ministry of Forestry said on Thursday.
Ilham, director of forest utilization business development at the ministry, said timber production has become less commercially viable as rising operational costs frequently outpace market prices.
"We need to find optimization options for transformation beyond timber, for example, utilizing silvopasture for food, energy for biomass and biofuel, and water utilization," Ilham said.
The government has also been positioning carbon sequestration and trading as new drivers of economic growth, with the restoration of 12 million hectares of land expected to generate carbon storage potential of up to 13.4 billion tonnes, Ilham said.
To prevent overlapping claims and ensure regulatory certainty for green investors, the government has established a structured, cross-ministerial zoning framework for carbon management, local media reported. ■