Ensuring a fair distribution of profits from genetic data

At COP16 of the United Nations Convention on Biological Diversity, a milestone was reached with the establishment of an international system to ensure a fair distribution of benefits from genetic information on biological resources.

The Seychelles delegation, led by Minister Flavien Joubert, played a key role at COP16, which focused on critical biodiversity agreements. Astrid Schomaker, Executive Secretary of the CBD, highlighted the event’s importance, stating that it is time to secure an agreement with nature. Minister Joubert described this conference as a pivotal moment for Seychelles, emphasizing strategic choices for preserving marine ecosystems and combating invasive species while calling for financial support from industrialized nations for these initiatives.

During COP16, the Cali Fund was introduced to ensure equitable sharing of benefits generated from DSI (digital sequence information), with a specific focus on supporting developing countries and indigenous communities. This fund will also support the Kunming-Montreal Global Framework by backing initiatives to preserve biodiversity and strengthen local capacities.

Speakers emphasized the need for Seychelles to identify alternative financial resources to protect its ecosystems amid current climate and biodiversity challenges.