The Nagoya Protocol on Access and Benefit Sharing (ABS) was approved by the Union Cabinet for ratification on Thursday, in time for the Conference of Parties 11 (CoP) on biodiversity scheduled to begin on October 8.
However, at the conclusion of the Meeting of Parties (COP MOP 6) on Friday, the Central government is still undecided on the time-frame for ratification of the Nagoya Kuala Lumpur supplementary protocol on biosafety.
India will be the seventh country to ratify the protocol on the ABS which requires ratification by 50 countries to come into effect.
The ratification will mean implementation of equitable sharing of benefits from utilization of genetic resources and also includes technology transfer. The ratification of the protocol will ensure that research, development and commercialisation of compounds extracted from biological sources will be subjected to the ABS rules.
The supplementary protocol on biosafety which involves the system of liability and redress will be vital as a check point in ensuring accountability on those producing the Living Modified Organisms (LMOs).
“The Cabinet has approved the ratification process for Nagoya Protocol on biodiversity adopted at the COP 10. However, the protocol has to be deliberated on.