UNCTAD Launched a Tool to Track Biodiversity-Based Products in Trade

Biodiversity is crucial for the economy. Many of the things we use daily are derived from biodiversity, including medicine, food, and crafts. As the concern over biodiversity loss rises, it’s clear that the world must strive for sustainable biodiversity use. The United Nations Conference on Trade and Development (UNCTAD) launched a tool to enable biodiversity-based products tracking and support the sustainable use of biodiversity.

Biodiversity-Based Products Trade

Biodiversity-based products refer to products that are based, sourced, and derived from biological resources and ingredients. Some examples range from the things we consume or wear daily, like fruits, ground coffee, and cotton shirts, to chemical components like glycerol derived from natural oils and fats.

Biodiversity-based products are traded every day to fulfill the global demand. The World Economic Forum estimated that half of the world’s total GDP in 2020 (roughly USD 44 trillion) depended on biodiversity and nature at moderate to high levels. At the same time, biodiversity loss occurs in many parts of the world due to climate change and human activities.

Ensuring a sustainable biodiversity trade requires ways to support the economy without harming the people and planet. In 1996, the UNCTAD launched the BioTrade Initiative to promote sustainable trade and investment in biodiversity-based products and services. The most recent project under the initiative is the Trade and Biodiversity (TraBio) statistical tool.

TraBio Statistical Tool

A 2023 UNCTAD report reveals that the data and statistics related to biodiversity trade have been scattered and lacked a formal definition and classification of biodiversity-based products. Therefore, the TraBio statistical tool is developed to facilitate the gathering, monitoring, and data reporting on biodiversity-based product trade.

The tool aims to provide a better understanding of how biodiversity can contribute to the economy through biodiversity-based product trade. The TraBio Statistical Tools comprises of three main components:

TraBio product classification facilitates analysis, policy formulation, research, and decision-making on trade information through categorization and groupings.
TraBio database, containing information on trade in biodiversity-based goods
Interactive visualization tools to help the user visualize trade flows and indicators.

Supporting Sustainable Biodiversity Use

The TraBio statistical products and classification aim to eventually establish a universal standard for trade statistics in biodiversity-based products. Eventually, it is hoped to provide comprehensive, reliable, and accessible data on biodiversity-based products for governments, organizations, and businesses to make informed decisions and support sustainable biodiversity use.

Editor: Nazalea Kusuma

Kresentia Madina

Reporter at Green Network Asia | Website | + posts

Madina is the Assistant Manager of Stakeholder Engagement at Green Network Asia. She holds a bachelor’s degree in English Studies from Universitas Indonesia. As part of the GNA In-House Team, she supports the organization's multi-stakeholder engagement across international organizations, governments, businesses, civil society, and grassroots communities through digital publications, events, capacity building, and research.