Innovations in the Institutional Arrangements in the BBNJ Agreement

What is it about?

_x000D_ The adoption of the BBNJ Agreement is a major achievement, not least because of its institutional arrangements. A number of new institutions will be established, with interesting and novel competences. These include particularly innovative provisions about dealing with marine genetic resources, as well as procedures leading to binding decisions establishing area-based management tools; the latter may not include areas within national jurisdiction, although how disputes on this point will be resolved is unclear. There is a particular emphasis upon the inclusivity and transparency of procedures. . In addition, the financial mechanism involves novel rules designed to benefit developing countries. The new institutions will be obliged to coordinate closely with existing organisations having relevant competences.

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