INSTITUTIONAL GOVERNANCE OF BIOPROSPECTING: RIGHTS, JUSTICE AND BENEFIT SHARING IN BRAZIL AND SELECTED INTERNATIONAL CASES

Abstract

This article analyzes bioprospecting practices in Brazil and other mega-biodiverse countries, highlighting the high investment costs and the risks associated with the long-term return, which entails high transaction costs and the need for more efficient governance structures. From four case studies, involving national and international experiences in bioprospecting contracts, the results demonstrate that the regulatory frameworks in force, in the contexts analyzed, impose obstacles to the formalization and conduction of the agreements. The differences and similarities between the cases are systematized in a comparative table, which highlights the main strengths and limitations of the initiatives. From the perspective of the New Institutional Economics (NEI), it was observed that contracts structured in a hybrid way reveal greater efficiency in the coordination between the actors. It is concluded that there is room for strengthening bioprospecting activities through the construction of a national and international framework based on clearer, more flexible regulations adapted to the complexity of these processes.