Countries Agree on Payment Mechanism for Conservation Efforts at Global Summit on Nature

Recent international conferences on biodiversity have resulted in the creation of a system that requires companies to pay for the use of genetic information. The system involves a fund where companies that profit from genetic data stored in databases contribute a fee. This development is attributed to advances in sequencing genetic material, which have made it more efficient and cost-effective for researchers. Genetic data from nature is used in various products, including nutrient-enriched rice and denim jeans. The payment system for genetic information has the potential to generate billions of dollars for conservation efforts.