Conducting Plant Material R&D? Nagoya Pact Requires ABS Due Diligence
This article was originally published in The Rose Sheet
The Nagoya Protocol on Access and Benefit Sharing comes into force this fall, as will an EU regulation instituting checks to ensure that firms conducting R&D on genetic resources are compliant with ABS laws in provider countries. With other countries around the globe developing their own legislation under the international treaty, cosmetics firms large and small must exercise due diligence, assessing their ingredient use and supply chains to avoid penalties and reputational damage.