|Convention on Biological Diversity (CBD)|
An international agreement on conservation and sustainable use of biological diversity, initiated by the United Nations Environment Programme. The CBD was signed by 168 countries and entered into force in 1993. The three main objectives of the convention are the conservation of biological diversity; the sustainable use of the components of biological diversity; and the fair and equitable sharing of the benefits arising out of the utilization of genetic resources.
|Reference: Oxford Press Dictonary of Economics, 5th edt.|