Genome editing enables precise, targeted changes to the DNA of living cells and organisms. In the face of growing food, fiber, feed, and fuel demands—compounded by land and water constraints and climate change—genome editing for crop and livestock improvement is drawing increasing attention. This paper describes how genome editing is performed, the types of edits possible, its relationship to traditional breeding and genetic engineering, and potential limitations. It also provides an overview of current governance, including regulations, international agreements, and codes of conduct, discussing environmental, animal welfare, and economic considerations to support science-informed regulatory frameworks.