Funds under Benefit-sharing Mechanism

Why in News?

The National Biodiversity Authority (NBA) has released funds (Rs.8.22 crore) to three research institutions and 33 State Biodiversity Boards and Union Territory Biodiversity Councils.

• It is marking one of the largest single access and benefit-sharing (ABS) disbursements for rice.
• This disbursement reflects India’s commitment to ensuring fair and equitable sharing of benefits arising from the utilisation of the country’s biological resources.
• The research institutions will utilise the funds to strengthen
  • Germplasm conservation,
  • Maintain seed collections and
  • Support research and training.
• The State Biodiversity Boards and Union Territory Biodiversity Councils will use their allocations for approved conservation activities.
• These activities include protecting native crop diversity, restoring ecosystems, documenting traditional knowledge and supporting local farmers and knowledge holders.
• It supports Target 13 of the Kunming-Montreal Global Biodiversity Framework.

Target 13 of the Kunming-Montreal Global Biodiversity Framework promotes fair and equitable sharing of benefits arising from the utilisation of genetic resources and associated traditional knowledge.

• It also contributes to several Sustainable Development Goals, including
  • SDG 2 (Zero Hunger),
  • SDG 12 (Responsible Consumption and Production), SDG 15 (Life on Land) and
  • SDG 17 (Partnerships for the Goals).
• NBA is a statutory body established under the Biological Diversity Act, 2002, under the Ministry of Environment, Forest and Climate Change.
• It regulates access to India’s biological resources and associated traditional knowledge and implements the Nagoya Protocol’s principle of fair and equitable benefit-sharing.

Convention on Biological Diversity (CBD)

• The Convention on Biological Diversity (CBD) is a global legal treaty from the 1992 Rio Earth Summit with three core goals –
  • The conservation of biological diversity (or biodiversity);
  • The sustainable use of its components; and
  • The fair and equitable sharing of benefits arising from genetic resources.
• The United States is the only UN member state which has not ratified the Convention.
• It has two supplementary agreements
  • Cartagena Protocol and
  • Nagoya Protocol.

Reference

DD News | Funds under benefit-sharing mechanism