Poor countries are ’not mining their green gold’, by Mike Shanahan
Thursday, April 21, 2005
In theory, screening biological resources for marketable products ? a process known as ’bioprospecting’ ? could contribute to sustainable development.
Attracted by the prospect of new drugs, foreign pharmaceutical companies would screen biological resources (such as plants and corals) from a developing nation. When a successful drug comes out of their research, the company would share the profits with the country that the resource was taken from. Agreements would ensure that benefits reach any local communities whose knowledge informed the research.
Story found here.