The Potential of Private Standards for Valorizing Compliance with Access and Benefit Sharing Obligations of Genetic Resources and Traditional Knowledge

International legal instruments such as the Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization to the Convention on Biological Diversity (“Nagoya Protocol”) and the International Treaty on Plant Genetic Resources for Food and Agriculture (“ITPGRFA”) are meant to create incentives for fairly sharing the benefits of the utilization of genetic resources. These commitments have, however, been assessed by many stakeholders as an obstacle rather than an incentive to commercial activities. If this is indeed the case, ABS obligations may do more harm than good and raises the fundamental question: can ABS obligations be translated from an obstacle into an opportunity? The article discusses consumer-based mechanisms as positive drivers for benefit sharing by using private standards to incentivize ABS obligation compliance. This approach goes further than using private standards as implementation tools, and suggests that they could leverage advantages for industry from the consumer perspective, specifically a consumer-facing label on products. We suggest a research strategy addressing this approach