India on Thursday signed the Biodiversity Beyond National Jurisdiction (BBNJ) Agreement — called the ‘High Seas Treaty’ — that will allow the country to enhance its strategic presence in areas beyond its Exclusive Economic Zone (EEZ) and work for conservation and sustainable use of marine biological diversity, reports Times Of India.
About the deal
The agreement, signed by external affairs minister S Jaishankar on the sidelines of the United Nations General Assembly in New York, is an international treaty under the UN Convention on the Law of the Sea.
It addresses the growing concerns over the long-term protection of marine biodiversity in the high seas.
The agreement, an international legally binding treaty, was agreed upon in March 2023, and is open for signature for two years, starting Sept 2023. It will enter into force 120 days after the 60th ratification. Currently, nearly 100 countries have signed it, and eight of them have ratified it.
The treaty sets precise mechanisms for the sustainable use of marine biological diversity through international cooperation and coordination. Member countries cannot claim or exercise sovereign rights over marine resources derived from the high seas and should ensure fair and equitable sharing of benefits.
Taking care of marine genetic resources, including fair and equitable sharing of benefits; measuring area-based management tools, including marine protected areas; environmental impact assessments; and capacity-building and the transfer of marine technology, are the four main focus areas of the treaty.
Opening newer avenues for scientific research and development, the Agreement will address several “cross-cutting issues”, establish a funding mechanism, and set up institutional arrangements, including a Conference of the Parties (COP) and various subsidiary bodies, a clearing-house mechanism, and a secretariat.
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Source: Times Of India
