Abstract

Waters that extend beyond the national jurisdictions of world countries, which amount to more than two-thirds of the Earth’s oceans are known as the high-seas. The tapestry of resources in the deep blue have a lot to contribute to the health of our planet, but harnessing positive results depends on striking the right balance between the principle of common heritage of mankind and benefit-sharing. The most pressing concerns with the ocean economy is that they are becoming warmer, more acidic and contain less oxygen. Although the existence of the United Nations Convention on the Law of Sea (UNCLOS) 1982 governs the affairs in and under the international waters, the most challenging issue today is the management of the marine genetic resources in the high seas. Making effective utilization of such high seas lies in the sustainable use and conservation of the marine biological diversity present therein, which is also highlighted in the Sustainable Development Goal (SDG) 14: Life Below Water. The 4th session of the Inter-Governmental Conference (IGC 4) set the motion for an international legally binding agreement, the Biodiversity Beyond National Jurisdiction (BBNJ) Agreement, to govern the issue of conservation and achieving sustainability of use of biodiversity in the deep seabed and high seas which are also known as areas beyond national jurisdiction (ABNJ). This treaty aims to substantively cover a plethora of complex issues such as benefit-sharing, area-based management tools, marine genetic resources, transfer of marine technology and environment impact assessments. The UN recently proclaimed that the years 2021 to 2030 will be known as the Decade of Ocean Science for Sustainable Development which aims at gathering ocean stakeholders internationally, to extend support in “creating improved conditions for sustainable development of the Ocean”. Through this paper, the authors try to discuss the roles of various such stakeholders which includes regional, national as well as international institutions in the effective implementation of the BBNJ Agreement by employing doctrinal method.

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