Recent years have witnessed a proliferation of development projects articulated towards the ‘empowerment’ of so-called beneficiaries, particularly in contexts affecting indigenous peoples’ livelihoods. This shift is observable in various projects, including the Upper Baram Forest Area conservation project endorsed by the International Tropical Timber Organization (ITTO); and located in Sarawak, Malaysia. With a view to exploring the modes of knowledge production and governmentality at stake in the design and early implementation of this community-based forest management project, this paper examines ethnographic data among indigenous residents of the area, interviews with NGO representatives, and the project proposal drafted by funding and executive agencies. In light of historical considerations and insights from poststructuralism, post-development and postcolonial studies, I argue that this project is inscribed in a trend of cognitive extractivism, converting indigenous peoples’ knowledge into symbolic and economic capital while precluding their meaningful participation and demands for substantive political change. We extend our heartfelt thanks to the Vahabzadeh Foundation for financially supporting the publication of best works by young researchers of the Graduate Institute, giving a priority to those who have been awarded academic prizes for their master’s dissertations.