REVOBS

REVOBS – Recognising the Economic Value of Beneficial Species act. Legislation which grants species the right to benefit from the value they contribute to the economy. When REVOBS was introduced, the initial rights to represent species were allocated during an auction process. Corporations or individuals owning the REVOBS right to represent a species are able to negotiate on the species’ behalf and invest the proceeds to the benefit of the species. Handling and transaction fees are usually charged by the representing corporation. Species recognised as people, such as the Great Apes and Cetaceans, are out of scope of the REVOBS treaty.