The Convention on Biological Diversity has three objectives and was opened for signature at the Rio Earth Summit
Background
The Convention on Biological Diversity has three main objectives: 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.
The negotiations culminated on 22 May 1992 with the Nairobi Conference for the Adoption of the Agreed Text of the Convention on Biological Diversity.
The Convention was opened for signature on 5 June 1992 at the United Nations Conference on Environment and Development, the Rio Earth Summit.
It remained open for signature until 4 June 1993, by which time it had received 168 signatures.
The Convention entered into force on 29 December 1993, which was 90 days after the thirtieth ratification.
The first session of the Conference of the Parties was scheduled for 28 November to 9 December 1994 in the Bahamas.
The Convention is supplemented by the Cartagena Protocol and the Nagoya Protocol.
In plain words
Nagoya Protocol The protocol on access to genetic resources and benefit sharing — It gives practical effect to the Convention's third objective, the fair and equitable sharing of benefits.
Cartagena Protocol The protocol on biosafety under the Convention — It is one of the two protocols that supplement the Convention on Biological Diversity.