Opportunities of the Nagoya Protocol to nurture the use of native species in Brazil

In June 2021, Brazil has become the 130th member of the Nagoya Protocol (NP). This brings both challenges and opportunities. Despite being a megadiverse country with approximately 50 thousand documented flora species, its biodiversity remains virtually untapped due to insufficient mapping and research programs, inefficient governmental support and lack of cooperation with emerging biodiversity markets. Here, we explore opportunities and challenges for Brazil as a new member of the NP. We present ways forward for Brazil to shift from an unprocessed native species resource provider to a developer of new products based on the genetic resources from the wide range of its native species. We stress the need for finding a balance between material and immaterial values of biodiversity. In addition, we call for investments to develop knowledge (taxonomy, conservation, sustainable use), alternative market niches, infrastructure, skills, regulatory frameworks and efficient operational structures. As science and technology continue to develop novel modes for the use of biodiversity, it is important to monitor those developments to ensure that benefits are returned and reinvested in the wellbeing of traditional communities where the biodiversity knowledge originated. To achieve this goal, the country must develop its National Benefit Sharing Fund aimed at supporting the roots of biodiversity knowledge.