Published: 7th Feb, 2019
Goa State Biodiversity Board (GSBB) issued a tagging system to ensure communities residing within the biodiversity zone get Access Benefit Share (ABS) from their profits.
Context
Goa State Biodiversity Board (GSBB) issued a tagging system to ensure communities residing within the biodiversity zone get Access Benefit Share (ABS) from their profits.
About
- This product tagging is a new system however, paying ABS has already been a part of the Biodiversity Act 2002.
- The tag indicates that the ingredients used therein are sourced from the nature.
- The sellers are supposed to pay 0.01% of their annual profit to the GSBB and the board will then use this amount to protect the habitat from where the ingredients are.
- The amount sourced from the biodiversity zones by the organization will be submitted annually along with payments. The industries will pay profits obtained from only those products which have been sourced from that zone.
- More than 300 industries were approached to join the scheme, but currently only three organizations Tanshikar Spice Farm, Krishna Plantation and Raika Honey have agreed for the same.
- Tanshikar Spice Farm, a restaurant in Goa, collects pollens from bee hives for making pollen smoothies.
- Raika Honey produces lip balms and soaps using honey and bee wax.
Significance
- The initiative will further enhance the credibility of the product and boost the products’ sale.
- Help generate revenue for the sellers as well as the GSBB.
Courses
Study
Notes
Home
Resources
More
