ABSTRACT
In 1981, Antoine van Agtmael coined the term “emerging markets,” in contrast to the “third world” concept. Emerging countries are considered rich in terms of biodiversity resources, or megadiverse—as they host most of the world’s biodiversity—and have traditional populations that own important knowledge that biotechnology companies can turn into commercial applications. Although there is no clear definition of the category of emerging countries, two broad emerging countries’ negotiating coalitions active in economic governance have embraced environmental issues, namely the BRICS (Brazil, Russia, India, China, and South Africa) and the IBSA (India, Brazil, and South Africa). Emerging countries can also organize in specific groups within particular negotiations. Emerging countries share principles and values that enable them to work together, such as the right to development, and the common but differentiated responsibilities principle. Finally, in global environmental politics, emerging countries are often inclined to maintain a status quo that plays in their favor, rather than promoting major reforms.
