The Forest Industries Association of Ghana (FIAG) is setting collaborative efforts with various stakeholders to mitigate the environmental impact of forestry activities whilst optimizing economic benefits.

Highlighting the prevalence of illegal activities affecting the forest sector, the group says adhering to standard practices can unlock significant business opportunities for the green and circular economy.

The Association believes the timber industry can fetch the country more returns if activities are regulated to reflect green standards.

According to the CEA, environmental degradation costs $6.3 billion annually, representing nearly 11% of Ghana's 2017 GDP.

Deforestation, coupled with unsustainable activities affecting the timber and forestry industry, is ravaging government revenue and communities of positive impacts. 

The Forest Industries Association of Ghana (FIAG) is aiming at enforcing a green economy by partnering with stakeholders to ensure acceptable and impactful timber and forest operations. 

Chief Executive Officer of the association, Dr Kwame Asamoah Adam, indicated that their focus is to reduce environmental risks and ecological scarcities for sustainability.

He added that there is the need to have developmental policies (financial, natural resources, environmental infrastructure) that support green growth. 

For him, policies should support economic activities that, at best, promote environmental and social development and, at a minimum, do not harm the environment or human welfare.

“Despite having the abundant renewable natural resources that could support the attainment of sustainable development, Ghana has a serious forest degradation and deforestation record and one of the highest costs of environmental degradation in the world,” he continued.

Dr Adam spoke at the first annual general meeting of the Forest Industries Association of Ghana.

The meeting assembled industry players and experts under the theme: “Perspective of Green Economy in Ghana Forestry.”

He is certain that implementation of green economic methods will improve revenue optimisation and create business opportunities. 

The green economy is an economic development framework where there are interconnected economic activities that promote global scale sustainable development, poverty eradication, job creation, environmental protection, and eco-efficiency and low-carbon emission.

Dr Adams believes the transition to a green economy business model is necessary for companies to achieve sustainable development targets.

“…This virtuous circle encourages resource and energy efficiency and promotes sustainable production, enabling the use of environmentally friendly technologies, processes, and products,” he said. 

Chief Executive Officer of the Forestry Commission, John Allotey, speaking on behalf of the Minister for Lands and Natural Resources, emphasized the government’s support for tree growers and timber industry players. 

He revealed the Ministry through the Ghana Forest Investment Programme has begun the process of disbursing an amount of US$ 7 million loan to small to medium-scale tree growers at concessionary interest rates to boost investments in forest plantations as a commercial entity.

“…I implore you to take advantage of this loan scheme to increase the raw material base of the dwindling timber industry,” he said.