Nagoya's hopes and dreams- The Protocol

For business, particularly companies using biodiversity as the source and
inspiration for innovative ingredients for food and personal care products,
the Nagoya Protocol will mean growing calls for measures to consider
and put in practice fair and equitable benefit sharing. The Nagoya Protocol
now clearly encompasses research and development to identify new
bioactive compounds and natural ingredients for food, supplement and
cosmetics products. The Nagoya Protocol also foresees mechanisms
that will facilitate and control the implementation of access and benefit
sharing principles along the supply chain. As a result, the Nagoya Protocol
reasserts the need for companies to monitor, understand and comply
with access and benefit sharing requirements. In addition, by providing
a clearer and more level playing field, it also opens up opportunities for
companies already working towards ethical practices in their sourcing of
biodiversity.
The objective of this note is to provide a brief overview of the Nagoya
Protocol. In particular, this note focuses on the provisions that may have
a bearing on companies working with biodiversity-based ingredients in
the food and personal care sectors, and explains their relevance and
rationale. It should be kept in mind, however, that the Nagoya Protocol
is only a starting point. A lot of the meaning and practical consequences
of its provisions will depend on its further development in the context of
the CBD, as well as its implementation at the national level.