Study on Financial Security Mechanisms

(Article 10 of the Nagoya – Kuala Lumpur Supplementary Protocol on Liability and Redress)

Background

The Conference of the Parties serving as the meeting of the Parties, at its ninth meeting, requested the Executive Secretary to undertake a comprehensive study, subject to the availability of funds from the Voluntary Trust Fund, addressing:

the modalities of financial security mechanisms;
an assessment of the environmental, economic and social impacts of such mechanisms, in particular on developing countries; and
an identification of the appropriate entities to provide financial security. The request was made in accordance with Article 10 of the Nagoya-Kuala Lumpur Supplementary Protocol on Liability and Redress to the Cartagena protocol on Biosafety.

Study on Financial Security Mechanisms

The Secretariat commissioned a consultant to undertake the study.

A peer review of the draft study was undertaken from 25 May to 25 June 2021.

The revised final study was submitted to the tenth meeting of the Conference of the Parties serving as the meeting of the Parties in the annex of document CBD/CP/MOP/10/INF/1.

An executive summary of the study was provided in the annex of document CBD/CP/MOP/10/9. The document is available in all 6 UN languages on the meeting documents webpage (please select "official" tab).

In decision CP-10/13, Parties to the Supplementary Protocol welcomed the study, were reminded of the polluter pays principle and encouraged to take this principle into account, where applicable, when further developing financial security mechanisms.

Parties to the Supplementary Protocol were requested and other Governments were invited to submit information to the Executive Secretary on the measures they have in place to provide for financial security for damage from living modified organisms, in particular where they have reported having such measures in place in their fourth national reports.

The Executive Secretary was requested to compile the information submitted for consideration by Parties at their eleventh meeting.

Update on 2023-03-21

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