Ocean Biological Diversity Pact
Source: The Hindu
GS II: International Relation; GS III: Environment and Conservation
What is discussed under Ocean Biological Diversity Pact?
- What are the key objectives of Ocean Biological Diversity Pact?
- High seas
- ‘Blue Economy’ Policy of India
- The United Nations Convention on the Law of the Sea
Why in News?
A pact to protect marine biodiversity in the seas and oceans extending beyond the territorial waters of countries’ is being discussed in New York by delegates from India and other UN members.
Key Facts
- The pact comes after the UN General Assembly passed a resolution in May.
- It might be the last in a series of steps started in 2018 to establish a legally enforceable agreement on an international level in accordance with the 1982 United Nations Convention on the Law of the Sea (UNCLOS).
- The high seas comprise nearly 45% of the Earth’s surface.
- The Indian delegation includes officials from the Ministry of Earth Sciences (MoES), Centre for Marine Fisheries and Research Institute and the Ministry of External Affairs.
What Are the Key Objectives of Ocean Biological Diversity Pact?
- Deciding on rights of explorers
Image by Jordy Meow from Pixabay - Determining the rights of companies that conduct high seas biological resource exploitation is a crucial component of the pact.
- To determine if the companies have complete control over any discovery or exploitation in these areas.
- To evaluate whether the companies share their profits—including royalties and intellectual property—with a UN-approved organisation.
- Regulation for exotic items
- The primary targets of seafloor mining operations have been gas hydrates, precious metals, and other fossil fuel resources.
- With advancements in biotechnology and genetic engineering, several companies see potential in exotic microbes and other organisms that live in the deep ocean and can explore for medications, vaccines, and a range of commercial purposes.
- Many of these species are not identified yet.
What Are High Seas?
- High seas are the ocean surface and the water column beyond the Exclusive Economic Zone (EEZ).
- Exclusive Economic Zone (EEZ): The area of the sea that the United Nations Convention on the Law of the Sea (UNCLOS) specifies as having particular rights for a country.
- It is outside the jurisdiction of any nation.
- States may engage in activities in these regions, including transit, maritime science, and underwater exploration, so long as they are peaceful.
- High seas consist of two-thirds of the oceans on the Earth.
- It provides 90% of the planet’s habitat for life and a fishery harvest worth up to USD 16 billion annually.
- They are excellent locations for finding significant mineral resources, powerful medications, and oil and gas reserves.
‘Blue Economy’ Policy of India
- It has a 4000 crore rupee budget that is spread out over five years.
- Studies on the sustainable utilisation of deep-sea bioresources will receive the majority of attention.
- This will develop a manned submersible vehicle and work on “bio-prospecting of deep-sea flora and fauna including microbes.”
What is the United Nations Convention on the Law of the Sea?
- The United Nations Convention on the Law of the Sea (UNCLOS), also called the Law of the Sea Convention, was adopted on 16th November 1982.
- It establishes guidelines for all uses of the oceans’ resources and establishes a thorough framework of law and order throughout the world’s oceans and seas.
- The convention provides the framework for further development of specific areas of the law of the sea.
- It defines a distance of 12 nautical miles (approx. 22 km) from the baseline as the Territorial Sea limit and a distance of 200 nautical miles distance as the Exclusive Economic Zone (EEZ) limit.
- It has created three new institutions on the international scene:
- International Tribunal for the Law of the Sea
- International Seabed Authority
- Commission on the Limits of the Continental Shelf
The need for a separate Ocean Diversity Pact over existing UNCLOS
- Unexpected governance gaps are present under UNCLOS.
- It lacks the precise requirements necessary to guarantee that its responsibility to safeguard the maritime environment and its resources is accomplishing in an effective manner.
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