ICC advocates for effective multilateral system to share benefits from digital sequence information

Representing over 45 million businesses worldwide, ICC views the multilateral benefit sharing mechanism as an opportunity to recalibrate the current access and benefit sharing system, which is based on national laws and bilateral transactions.  

A multilateral approach would be better adapted to the realities of research and innovation, especially with the development of technologies using information relating to genetic resources. The new benefit sharing mechanism being negotiated is intended to take into account such technological developments.      

What does ICC advocate for?  

• A fully comprehensive and multilateral benefit sharing mechanism that provides legal certainty and secures full licence-to-operate from an access and benefit sharing perspective throughout the whole innovation and commercialisation process. 

• A fully comprehensive multilateral benefit sharing mechanism including genetic resources to reflect the close interrelation between genetic resources and digital sequence information in research and product development. This comprehensive approach would encompass current and future genetic resources-based technologies and avoid the need to define digital sequence information. 

• A broad payer base with a simple and affordable payment mechanism would help provide a steady, predictable and meaningful stream of funds for biodiversity conservation and sustainable use. 

A decision on this subject is to be expected at COP16, held from 21 October to 1 November 2024 in Colombia.