Bio trade to recover from Covid-19

World leaders have given a call to tap Bio Trade for a better recovery from Covid-19 pandemic as the conservation and sustainable use of biodiversity can create jobs and economic growth while protecting the World. The leaders said that the pandemic was an opportunity to put bold and ambitious environmental action at the heart of post coronavirus economic recovery strategies.

The call was given at the first ever global summit dedicated to biodiversity held virtually in the last week of September. United Nations Conference on Trade and Development economic affairs officer Lorena Jaramillo said that linking biodiversity, sustainable development and trade was a pathway towards more resilience at community, private sector and national levels in post- COVID-19 recovery efforts.

Bio Trade for recovery and resilience

The UNCTAD said that its Bio Trade initiative promoted sustainable, legal and traceable trade in biodiversity-based goods and services. The UNCTAD said that this was in line with objectives of the Convention on Biological Diversity (CBD) and the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). The partners have said that there was a need to foster a balanced relationship between post COVID-19 economic recovery policies and the different dimensions of sustainable development. “We urge this to be done through the conservation, restoration and sustainable use of biodiversity and building socioeconomic benefits and livelihoods, particularly in rural communities,” said the leaders in a joint statement.

They pointed out that this would contribute to building a better, healthier and sustainable future for all countries, businesses, communities and people. They emphasised that sustainable use of biodiversity and trade in its derived products and services are closely linked to building sustainable livelihoods.

Avoiding future pandemics, strengthening action

The UNCTAD stake holders said that trade in biodiversity, friendly sourced products and services was essential to reduce the risk of emergence and spread of zoonoses. This would reduce the risk of future pandemics in a post COVID-19 world, they added. They called for promoting sustainable trade of biodiversity based products and services under fair and equitable benefit sharing schemes. In the process of Covid 19 recovery, they said that economic incentives for biodiversity conservation, restoration and sustainable use have a crucial role.

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