Under the auspices of the United Nations Environment Programme (UNEP), the convention is the first global treaty to provide a comprehensive framework that addresses all of the aspects of biodiversity – ecosystems, species, and genetic diversity. It also introduces a new strategy, known as the "ecosystem approach," for addressing the biodiversity crisis. This strategy aims to reconcile the need for environmental conservation with concern for economic development.

The convention also introduces the Nagoya Protocol in an attempt to protect Indigenous knowledge, requiring Prior Informed Consent (PIC) from Indigneous communities before harvesting or research is performed on a natural resource in their territory.

Thirty countries will initially ratifiy the convention, and the vast majority will follow. The United States will refuse and remains one of the only countries that has not ratified today.