IT is important to place an economic value or figure on PNG’s entire forest resource – the PNG Forest Authority Managing Director John Mosoro told participants at a Forest Sector Modeling (FSEM) inception meeting at the APEC house in Port Moresby on Tuesday (October, 22,2024).
Mr Mosoro said the FSEM is a unique program – the first of its kind, and one of the important initiatives supported by the British Government.
“The project will eventually give us the value of our Forest resource if we are looking at bringing in the much talked about carbon finance to PNG,” Mr Mosoro said.
“The purpose of the Forest Sector Economic Modeling FSEM workshop is to introduce the initiative to stakeholders and get their feedback on its focus and use.
The inception meeting for the Forest Sector Economic Modeling Project is led by the PNG Forest Authority in partnership with the UK Government’s Foreign Commonwealth and Development Office, the European Forest Institute through the Governance Markets and Climate Program.
MD Mosoro thanked the British government and its people for making the project possible for PNGFA.
He specifically thanked and acknowledged the British High Commissioner her excellency Ms Anne Macro for making time available to attend the meeting.
MD Mosoro said the FAEM stemmed from discussions held in 2022 between the then British High Commissioner to PNG His Excellency Keith Scott and himself.
“It was based on the understanding of PNG’s forests and the importance decision making by key players in the sector considering alter land use options, carbon and environment conservation efforts.
Mr Mosoro said the shared understanding is also aligned to the national governments vision for forestry and the economic sector – to do more for the resource owners, business community and civil society.
“We must optimize benefits for all stakeholders concerned whilst preserving the Forest and environment in a sustainable manner and effectively addressing the new and emerging issues related to the forest industry,” MD Mosoro said.
He said the meeting will enable the Forest Sector to build a model that the forestry sector and related sectors can use as an important tool for making informed decisions.
The British High Commissioner to PNG her excellency Anne Macro said she welcomed PNG’s initiative to take up the Forest Sector Economic Modeling.
“I am very excited that UK ministers have approved our global 10 year Forest governments program which will provide wider assistance to support tropical countries including PNG to develop policies and regulation to conserve their forests, her excellency them British High Commissioner Ms Macro said.
