New legal instrument on genetic resources
The Nagoya Protocol was adopted on 29 October 2010 and builds on the Convention on Biological Diversity. It will provide greater legal certainty and transparency for providers and users of genetic resources and associated traditional knowledge by facilitating both access to the resources and support for fair and equitable sharing of benefits with the provider country and indigenous and local communities. The Nagoya Protocol enters into force 90 days after the deposit of the fiftieth instrument of ratification, acceptance, approval, or accession which must be submitted no later than 10 July 2012. Specific obligations to support compliance with contractual obligations reflected in mutually agreed terms are a significant innovation of the Nagoya Protocol. The compliance provisions as well as the provisions enabling more predictable conditions for access to genetic resources leave a Party providing genetic resources. The expected result is that the Protocol will create incentives to conserve biodiversity, sustainably use its components, and further enhance the contribution of biodiversity to sustainable development. The Conference of the Parties and the United Nations Assembly have called upon the Convention’s 193 Parties to sign the Protocol.
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