Living organisms, their components, and other biotic elements of ecosystems represent materials and information with actual or potential value. These entities encompass a wide range of sources, from genetic resources and organisms or parts thereof, to populations or any other biotic component of ecosystems with actual or potential use or value for humanity. For example, this includes medicinal plants used in traditional medicine, timber harvested from forests, and genetic material from wild relatives of crop plants used to improve agricultural yields.
The significance of these assets lies in their contribution to various sectors, including agriculture, medicine, and industry. They are fundamental to food security, the development of new pharmaceuticals, and the creation of innovative industrial products and processes. Historically, societies have relied on these resources for sustenance, shelter, and well-being, and their continued sustainable management is crucial for present and future generations. Preserving biodiversity and ensuring equitable access to and benefit-sharing from the utilization of these resources are of paramount importance.
