Brazil is the world's largest fragrance market and a leading region for cosmetics. Recently, the country adopted a new legal framework for biodiversity-based research, development and commercialization.
The rules cover genetic resources, knowledge sharing and sharing of benefits derived from R&D in cosmetics and food. It removes a previous authorization requirement for accessing biodiversity for research and development. Now, companies will merely log into an online database.
A national trust fund will now address benefits sharing directly with final product manufacturers to simplify processes.