The High Seas Treaty, formally known as the Biodiversity Beyond National Jurisdiction (BBNJ) agreement, was ratified by over 60 countries and will come into effect in January 2026. It aims to sustainably manage marine biodiversity and address issues like climate change, overfishing, and pollution. The treaty emphasizes the 'common heritage of humankind' principle, advocating for equitable sharing of marine genetic resources (MGRs). However, it faces significant challenges, including ambiguities regarding the application of this principle and the freedom of the high seas. Concerns about 'biopiracy' and the exclusion of developing nations from benefits persist, as the framework for sharing these benefits lacks clarity. Additionally, the treaty's effectiveness is threatened by the non-participation of major powers such as the U.S., China, and Russia, and it must navigate existing international institutions to avoid legal conflicts. The treaty's success will depend on dynamic management and linking climate and biodiversity efforts with ocean governance.