• The Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization to the Convention on Biological Diversity, also known as the Nagoya Protocol on Access and Benefit Sharing (ABS) is a 2010 supplementary agreement to the 1992 Convention on Biological Diversity (CBD).
• Its aim is the implementation of one of the three objectives of the CBD: the fair and equitable sharing of benefits arising out of the utilization of genetic resources, thereby contributing to the conservation and sustainable use of biodiversity.
• However, there are concerns that the added bureaucracy and legislation will, overall, be damaging to the monitoring and collection of biodiversity, to conservation, to the international response to infectious diseases, and to research.
• The protocol was adopted on 29 October 2010 in Nagoya, Japan, and entered into force on 12 October 2014.
• It has been ratified by 97 parties, which includes 96 UN member states and the European Union.
• It is the second protocol to the CBD; the first is the 2000 Cartagena Protocol on Biosafety.
• The Nagoya Protocol would also contribute to the other two objectives of the CBD relating to conservation and sustainable use, since benefits accruing from utilization of genetic resources would act as incentive to biodiversity-rich countries and their local communities to conserve and sustainably use their biodiversity. 

India and Nagoya Protocol:

• Ratification of the Nagoya Protocol by 51 Parties to the CBD is also a major step towards achieving the first of the global Aichi Biodiversity Targets (Target 16 that by 2015, the Nagoya Protocol is in force and operational), and that too more than a year before its target date, which is quite unprecedented. The pivotal role played by India in achieving this remarkable feat once again showcases India’s leadership on biodiversity in the global arena. 
• The Nagoya Protocol on Access and Benefit Sharing (ABS) will enter into force on 12 October 2014, 90th day of receiving the required 50th instrument of ratification on 14th July 2014. 
• The Nagoya Protocol was adopted at the tenth meeting of the Conference of the Parties (CoP) to the Convention on Biological Diversity (CBD) held in Nagoya in October 2010. 
• India signed the Nagoya Protocol on 11th May 2011.
• India ratified of the Nagoya Protocol  on October 9 2012 at the eleventh Conference of the Parties (CoP 11) to the Convention on Biological Diversity (CBD), which was held on Hyderabad.