The European Parliament also granted its consent for the European Union to be legally bound by the Nagoya Protocol on ABS, an international agreement under the Convention on Biological Diversity (CBD). The decision constitutes the 30th ratification of the Nagoya Protocol on ABS, bringing it one step closer toward its expected entry into force in October 2014.
“The Parliament vote is a landmark vote that will significantly impact the way biodiversity based R&D is conducted in the food and cosmetics industry,” said María Julia Oliva, senior coordinator for Policy and Technical Support at the Union for Ethical BioTrade (UEBT).
The EU rules on ABS aims to monitor and support compliance with ABS requirements around the world. Laws and regulations in biodiversity rich countries such as Brazil, South Africa and India already include requirements on how to access biological material for research and development and how to share the monetary and non-monetary benefits resulting from new information, innovations or products.
More info: www.ethicalbiotrade.org/bsr_2014