The aim of the chapter is to explore the evolution of key developments within the CBD process, outline important links between the different lines of rationalizing global environmental governance, and discuss the interplay between the CBD and the Green Economy efforts following the 2012 UNCED Conference in Rio de Janeiro (Rio+20). It provides a historical overview of three phases of the CBD related to economic aspects of biodiversity and some of the most recent developments in this regard. It ends by discussing whether the emergence of the Green Economy debate around the Rio+20 conference will assist or hinder the implementation of the CBD, and as an extension global biodiversity governance efforts.