United Nations Biodiversity Conference 2024 (COP16), DSI mechanism for benefit sharing from the use of digital sequence information approved

"In a significant development at the 16th Conference of the Parties (COP16) to the Convention on Biological Diversity (CBD), a new decision has been adopted to facilitate the fair and equitable sharing of benefits arising from the use of digital sequence information (DSI) on genetic resources.

The document outlines a multilateral framework to manage DSI benefits and sets up the "Cali Fund" to channel resources derived from commercial use of nature back into biodiversity conservation, especially aiding developing countries, Indigenous peoples, and local communities. This fund will receive monetary contributions from companies and sectors that derive commercial benefits from genetic sequence data. Contributors include sectors like pharmaceuticals, biotechnology, and cosmetics, expected to donate a percentage of profits or revenue depending on their scale and reliance on DSI...

To increase accessibility and accountability, the framework encourages the creation of databases that make DSI publicly available. Such databases must respect principles of open science, including transparency, accessibility, and ethical governance, aligning with frameworks like FAIR (Findable, Accessible, Interoperable, and Reusable) and CARE (Collective Benefit, Authority to Control, Responsibility, Ethics)..."