Convention on biodiversity is a multilateral treaty which was opened for signature on 5th June at earth summit. It entered into force in 1993. It is a legally binding treaty when a party has ratified it. The convention has basically three goals:
- Conservation of biological diversity
- Sustainable use of the components
- Fair and equitable sharing of benefits arising from generic source
195 states and the European Union are parties to the convention. All the UN members except USA have ratified the treaty.
Principle of Commons: Natural resources are a set of resources such as air, land, water and biodiversity that do not belong to one community or individual, but to humanity.For thousands of years, humans have considered natural resources and the environment as a global public good.
Under the principle of ‘Commons’, resources are largely managed by the communities themselves, for centuries.The developments as part of establishment of civilisations as well as today’s agricultural development are a result of such ‘Commons’