Value composition of aquatic genetic resources

The sustainable utilization and benefit-sharing of aquatic genetic resources (AGRs) is a key theme of the Convention on Biological Diversity, as well as an important topic in the negotiation on an international legally binding instrument under the Convention on the Law of the Sea on the conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction. While there is consensus on its significance, the the value composition of AGRs becomes difficult to define since its connotation continuously evolves with the technological progress and new applications. Different opinions on its value composition has resulted in divergence in the conceptualization and difficulties in international negotiation as well as the framing of key mechanism in domestic law. In this context, this study aims to analyze the value composition of AGRs from the perspective of value realization. To be specific, it develops an approach to define and evaluate the value of AGRs based on Total Economic Value (TEV) framework. To assess the value realization of AGRs, information is collected and analyzed through publicly accessible information. By categorizing and evaluating the means to utilize aquatic genetic resources, its derivative and digital sequence information through the collected information, it is able to identify the value of AGRs. The result shows that the value of AGRs can be realized through five major ways: commercial development, breeding, ecological use, management, and cultural value. For commercial development, current use of AGRs is found in the field of medical, cosmetics and health. If combining the results to the TEV framework, it finds that the means to realize the value of AGRs are not completely consistent with those of natural resources at the above-species level. The classic TEV framework cannot be used to fully cover the value of AGRs, especially the value coming from the use of derivatives and digital sequence information. To better frame TEV model and allow this classic model fully containing the value of AGRs, this article proposed the modification of TEV framework to meet the utilization of AGRs. The value of AGRs can be then composed of consumptive use value, non-consumable use value, selection value, existence value, and genetic value under TEV framework. The non-consumptive value will entail more connotation than analysis on above-species level, such as use of AGRs for breeding and management purpose. In comparison to resources above-species level, the value of AGRs may be reflected more on the non-consumptive level. Given the particularity of the value realization of AGRs, the modified TEV framework matches the current usage of AGRs than the classic model, and can effectively address the conceptual divergency in AGRs in the negotiation and mechanism design. With better framed value composition of AGRs, it can lays solid foundation for the value assessment of AGRs and promotes the establishment of a fair and reasonable benefit-sharing mechanism in international forum.