ISB, AAK India partner for forest produce

Hyderabad: The Indian School of Business (ISB) on Wednesday said it has entered an agreement with producers of specialty vegetable oil, AAK India Pvt Ltd (AAKIPL), to formalize participation of communities with secure tenure in the economy and facilitate capacity building at grassroots level. They will also support the establishment of community enterprises that will, in turn, bring in efficiencies and scale in operations and business.

AAKIPL a part of AAK, specializing in plant-based oils and fats, and forest-based resources purchases forest produce at scale, at competitive market prices directly from enterprises where a secure term has been operationalised. AAKIPL will be introducing the forest economy model to other corporates creating a multi-stakeholder working group.

The Memorandum of Understanding (MoU) was signed by Prof Ashwini Chhatre, Executive Director- BIPP, Indian School of Business and Dheeraj Talreja, president, South Asia at AAKIPL. AAK will also partner with the Bharti Institute of Public Policy (BIPP) at the Indian School of Business in constituting a working group under the 'Initiative on Forest Economy' by the end of this year. Large and key stakeholders from industry, government, the technology sector, and communities will participate in this working group.

"This partnership will be fruitful and a step forward in creating a prosperous forest economy that is good for the people, profits and planet," said Prof Ashwini Chhatre, Executive Director- BIPP, Indian School of Business.

Bharti Institute of Public Policy at ISB is undertaking the expedited implementation of the Forest Rights Act, 2006, in its pilot areas, towards the recognition of community forest resource rights as a solution to ensure the long-term sustainability of forests.