Discuss in brief: Convention on Biological Diversity

The Convention on Biological Diversity, known informally as the Biodiversity Convention, is an international treaty that was adopted in Rio de Janeiro in June 1992. It requires the countries to adopt ways and means to conserve the variety of living species, and ensure that the benefits from using biological diversity are equitably shared. The Convention has three main goals: conservation of biological diversity. sustainable use of its components. and fair and equitable sharing of benefits arising from genetic resources. In other words, its objective is to develop national strategies for the conservation and sustainable use of biological diversity. It is often seen as the key document regarding sustainable development. Some of the issues dealt within the convention include: Measures and incentives for the conservation and sustainable use of biological diversity. - Regulated access to genetic resources and traditional knowledge, including Prior Informed Consent of the party providing resources. Sharing, in a fair and equitable way, the results of research and development and the benefits arising from the commercial and other utilization of genetic resources with the Contracting Party providing such resources (governments and/or local communities providing the traditional knowledge or biodiversity resources utilized). Access to and transfer of technology, including biotechnology, to the governments and/or local communities that provide traditional knowledge and/or biodiversity resources. Technical and scientific cooperation. Impact assessment. Education and public awareness. Provision of financial resources. National reporting on efforts to implement treaty commitments.