The Convention on Biological Diversity (“CBD”) was signed at the 1992 UN Conference on Environment and Development (“UNCED”) in Rio de Janeiro and ratified in 1993. It is a comprehensive, binding agreement that cover the use and conservation of biodiversity. It requires countries to develop and implement strategies for sustainable use and protection of biodiversity.
The main objectives of CBD is conservation of biological diversity, sustainable use of the components of biological diversity, and fair and equitable sharing of the benefits arising out of the utilization of genetic resources. The convention reminds that the natural resources are not infinite and it should be used in a sustainable manner.
According to the convention, the contracting parties should develop national biodiversity strategies and action plans and integrate the same into broader national plans for environment and development. They should also identify and monitor the main elements of biological diversity should be conserved and used in a sustainable way. The convention also promotes public participation and educates people aiding awareness about the importance of biological diversity and the need to conserve it.