The historic convention on biological diversity that took place in Rio de Janeiro in 1992 is commonly referred to as:

The Earth Summit

The correct answer is Option (2) –The Earth Summit

The conservation of biodiversity is not confined by political boundaries, and thus, it is the shared responsibility of all nations.

The Convention on Biological Diversity, also known as 'The Earth Summit,' which took place in Rio de Janeiro in 1992, urged all countries to take appropriate actions to preserve biodiversity and ensure the sustainable utilization of its benefits.

As a continuation of these efforts, the World Summit on Sustainable Development occurred in Johannesburg, South Africa, in 2002.

During this summit, 190 countries committed to achieving a significant reduction in the current rate of biodiversity loss at the global, regional, and local levels by the year 2010.