What is benefit sharing under Biodiversity Act 2002?

Access and benefit-sharing (ABS) is a system under public international law that aims to fairly distribute benefits arising from genetic resources between the users of genetic resources (such as universities and biotech companies) and provider countries (regulatory authorities in biodiversity-rich countries).

What do you mean by benefit sharing under Biodiversity Act 2002?

The purpose of the Biodiversity Act is to realize equitable sharing of benefits arising out of the use of biological resources and associated knowledge. … The Act also covers the protection of traditional knowledge and equitable sharing of benefits arising out of the use of such knowledge.

How does benefit sharing work?

How does it work? Access and benefit-sharing is based on prior informed consent (PIC) being granted by a provider to a user and negotiations between both parties to develop mutually agreed terms (MAT) to ensure the fair and equitable sharing of genetic resources and associated benefits.

What is fair and equitable benefit sharing?

Access and benefit sharing (ABS) refers to the system for access to genetic resources and the fair and equitable sharing of benefits arising out of the utilization of genetic resources, on the basis of prior informed consent and mutually agreed terms.

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What are the main features of the Biodiversity Act 2002?

1) To regulate access to biological resources of the country with equitable share in benefits arising out of the use of biological resources. 2) To conserve and sustainably use biological diversity. 4) To create National , State and local biodiversity fund and its use for conservation of biodiversity.

What is the meaning of benefit sharing?

Benefit sharing is the action of giving a portion of advantages/profits derived from the use of human genetic resources to the resource providers in order to achieve justice in exchange with particular emphasis on the clear provision of benefits to those who may lack reasonable access to resulting products and services …

What does the Biodiversity Act 2002 primary address?

The Biodiversity Act – 2002 primarily addresses issues of conservation, sustainable use of biological resources in the country, issue related to access to genetic resources and associated knowledge and fair and equitable sharing of benefits arising from utilization of biological resources to the country and its people.

Is India party to Nagoya Protocol?

India is a Party to the Convention on Biological Diversity and its Nagoya Protocol on Access and Benefit Sharing. These international obligations have further strengthened India’s resolve and commitment towards conservation of biological diversity.

What is Nagoya Protocol on access and benefit sharing?

The Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization to the Convention on Biological Diversity is an international agreement which aims at sharing the benefits arising from the utilization of genetic resources in a fair and equitable way.

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What are Bonn Guidelines?

What are the Bonn Guidelines? The Bonn Guidelines are intended to assist governments in the adoption of measures to govern access and benefit-sharing in their countries. They were adopted by the Conference of the Parties to the Convention on Biological Diversity (CBD) in 2002.

What sharing of benefits aims at?

It has three major objectives: The conservation of biological diversity. The sustainable use of its components and. The fair and equitable sharing of benefits from the use of genetic resources.

What is Cartagena Protocol Upsc?

The Cartagena Protocol is a supplementary agreement to the United Nations Convention on Biological Diversity (CBD). It is one of the important international environmental protocols on biodiversity and especially relevant for the environment and ecology segment of the UPSC exam.

Is Nagoya Protocol legally binding?

The CBD’s 10th Conference of the Parties, in Nagoya 2010 adopted an international legally binding protocol on access to genetic resources and benefit-sharing—the Nagoya Protocol. … The same applies to genetic resources that are held by indigenous and local communities, in accordance with domestic legislation.