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Earth summit agrees on biodiversity pact

The biodiversity agreement provides for an international regime on the basis of Bonn guidelines, which detail the mechanism for the fair distribution of genetic resources and the benefits arising out of their use.

The summit also agreed to ensure a more efficient, coherent implementation of conservation, sustainable use of biodiversity and the development of production and consumption policies. But issues such as eco-labeling were not included in the text due to the likelihood of it being used as a disguised trade barrier.

Baalu said that developed countries, as part of a ten-year plan to accelerate the shift towards sustainable consumption, have agreed to provide financial, technical resources to the developing countries to reduce biodiversity loss.

PTI

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