Digital biomass and biofuels platform The Indian School of Business (ISB) and BiofuelCircle have partnered to boost the nation’s forest economy.
According to a release, the collaboration intends to create extensive, effective, and sustainable value chains in the bioenergy industry by using specialized non-timber and seasonal forest products as well as forests as a dependable and eco-friendly supply of raw materials.
By joining forces, BiofuelCircle and ISB are demonstrating their commitment to promoting sustainable bioenergy and providing local communities with income-generating opportunities.
To realize this objective, the partnership will mix government partnerships, formal industrial links, and community forest ownership.
This effort is currently being carried out by ISB in three Indian states. The pilots will act as testing grounds for the creation of multistakeholder partnerships between business, government, and communities in order to create a scalable and sustainable solution for the acquisition of forest-based industrial raw materials.
One such experiment is currently in progress in the Himachal Pradesh district of Chamba, where pine cones and needles (deodar, chil, and kail) are one of the key seasonal forest products.
Through its digital platform, BiofuelCircle will map open value chains, simplify sourcing logistics, and facilitate sizable transactions between community-owned businesses and consumers.
It will carry out its responsibility of establishing connections between the local communities and the many industries who now purchase their biofuels through its platform.