What is benefit sharing under Biodiversity Act?

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.

What is 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. Clearly, we are dealing with a tool—that is, a device or action to achieve a particular function or outcome.

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 access and benefit sharing ABS in relation to the Convention on Biological Diversity?

Access and benefit-sharing (ABS) refers to the way in which genetic resources may be accessed, and how the benefits that result from their use are shared between the people or countries using the resources (users) and the people or countries that provide them (providers).

Which of the following is a benefit of biodiversity?

Biodiversity is important to humans for many reasons. Ecological life support— biodiversity provides functioning ecosystems that supply oxygen, clean air and water, pollination of plants, pest control, wastewater treatment and many ecosystem services.

Why is it important to share with others?

Why sharing is important Children need to learn to share so they can make and keep friends, play cooperatively, take turns, negotiate and cope with disappointment. Sharing teaches children about compromise and fairness. They learn that if we give a little to others, we can get some of what we want too.

What is fair and equitable benefit sharing?

Fair and equitable distribution of benefits refers to the measures taken to ensure that the benefits arising from the utilization of biodiversity and associated traditional knowledge, as well as the subsequent applications and commercialization, are shared in a fair and equitable way among all those organizations or …

Is India a part of 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 are the types of biodiversity?

Biodiversity includes three main types: diversity within species (genetic diversity), between species (species diversity) and between ecosystems (ecosystem diversity).

  • Genetic Diversity.
  • Species Diversity.
  • Ecological Diversity.
  • Biodiversity Agreements.
  • Human Impact.
  • Conservation.

How is benefit sharing based on biological resources?

Hence, in the case of commercialization of a patent for invention involving use of biological resources, the quantum of benefit sharing would be based on the sale of the finished product rather than the quantity and number of biological resources used in the invention.

What was the purpose of the Biological Diversity Act?

The Biological Diversity Act, 20027 The aim of the Biological Diversity Act is to provide for the conservation of biological diversity, sustainable use of its components and fair and equitable sharing of the benefits arising out of the use of biological resources, knowledge and for matters connected therewith or incidental thereto.

Are there any issues with the Biodiversity Act?

One of the major issues reported as a hindrance in the compliance of the Biodiversity Act provision is confusion regarding what forms of a biological resource fall within the ambit of the act.

Why is the Convention of Biological Diversity in India important?

Convention of Biological Diversity and India’s Biodiversity Act are moves to bring in equity in the sharing of bio-resources for mutual benefit. Conservation and sustainable use of biodiversity are age old traditions in India, as reflected in our ancient scriptures.