The Earth’s biological resources are vital to humanity’s economic and social development. As a result, there is a growing recognition that biological diversity is a global asset of tremendous value to present and future generations. At the same time, the threat to species and ecosystems has never been so great as it is today. Species extinction caused by human activities continues at an alarming rate.

In order to protect, conserve and wise use of biodiversity, the global community has adopted the international Convention on Biological Diversity.

The Convention was opened for signature on 5 June 1992 at the United Nations Conference on Environment and Development (the Rio “Earth Summit”). It remained open for signature until 4 June 1993, by which time it had received 168 signatures. The Convention entered into force on 29 December 1993, which was 90 days after the 30th ratification.

The Convention has 3 main objectives:

  1.  The conservation of biological diversity
  2.  The sustainable use of the components of biological diversity
  3.  The fair and equitable sharing of the benefits arising out of the utilization of genetic resources