Bioprospecting: Promoting and Regulating Access to Genetic Resources and Benefit Sharing

Abstract

Advances in biotechnology and associated areas have increased the value of biodiversity and related knowledge of indigenous communities, and lent impetus to global bioprospecting activities. The Convention on Biological Diversity (CBD) put in place a framework for regulation of such activities and replaced the existing regime of free access to bioresources with a framework where indigenous communities would be compensated for use of their knowledge, innovation and practices. Member nations have put in place, or are in the process of establishing, national and regional measures to operationalise the principles of the Convention, regulating bioprospecting in such a way as to ensure that access to their genetic resources and subsequent benefit sharing are on mutually agreed terms based on prior informed consent (PIC) of resource providers. This paper looks at bioprospecting and discusses how such activities can be encouraged in a manner that benefits local communities. It also analyzes various legislative, private legal and nonlegislative measures that can be adopted to set up a regulatory regime that controls access and ensures benefit sharing.