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Its objective is the fair and equitable sharing of benefits arising from the use of genetic resources, thus contributing to the conservation and sustainable use of biodiversity.

It recognizes the sovereignty of States over their resources and sets out the principles that allow a State to regulate access to its genetic resources and the sharing of benefits arising from their use through research and development.
The Nagoya Protocol on Access and Fair and Equitable Sharing of Benefits Arising out of their Utilization to the Convention on Biological Diversity is an international agreement aimed at sharing the benefits arising from the use of genetic resources in a fair and equitable manner. The Protocol entered into force on October 12, 2014, ninety days after the deposit of the fiftieth instrument of ratification.
The Nagoya Protocol on Access to Genetic Resources and Fair and Equitable Sharing of the Benefits Arising out of their Utilization (ABS) to the Convention on Biological Diversity is a complementary treaty to the Convention on Biological Diversity. It provides a transparent legal framework for the effective 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.
The Nagoya Protocol will create greater legal certainty and transparency for both providers and users of genetic resources by:

• Creating more predictable conditions for access to genetic resources.
• Contributing to ensuring benefit-sharing, when genetic resources leave a Contracting Party providing genetic resources.

By helping to ensure benefit-sharing, the Nagoya Protocol creates incentives for the conservation and sustainable use of genetic resources, and thereby enhances the contribution of biological diversity to human development and well-being.

The Nagoya Protocol applies to genetic resources within the scope of the CBD and to the benefits arising from their use. The Nagoya Protocol also applies to traditional knowledge associated with genetic resources within the scope of the CBD and the benefits arising from their use.