• The Nagoya Protocol is an international agreement that addresses the fair and equitable sharing of benefits arising from the utilisation of genetic resources. It is a supplementary agreement to the Convention on Biological Diversity (CBD) and specifically focuses on access to genetic resources and the fair and equitable sharing of benefits derived from their utilisation.

• Statement 1 is correct: In India, the Biodiversity Management Committees (BMCs) are indeed key to the realisation of the objectives of the Nagoya Protocol. The Nagoya Protocol aims at sharing the benefits arising from the utilisation of genetic resources in a fair and equitable way. BMCs play a crucial role in this by ensuring that local communities have a say in the access to and use of these resources.

• Statement 2 is correct: The Biodiversity Management Committees also have important functions in determining access and benefit sharing. They have the power to levy collection fees on the access of biological resources within their jurisdiction. This is part of their role in managing and conserving biodiversity, and ensuring that the benefits derived from the use of these resources are shared equitably.

Therefore, both statements are correct.