The Convention on Biological Diversity (CBD) is an international legally binding treaty adopted in 1992. It aims to promote the conservation of biodiversity, sustainable use of biodiversity, and fair and equitable sharing of benefits arising from genetic resources. The CBD recognizes that states have sovereign rights over their natural resources, and aims to ensure these resources are used in a sustainable manner. It also promotes cooperation between countries in biodiversity conservation. The CBD has near universal membership, with 196 parties that have agreed to its objectives.