Updated Bioeconomy strategy for Europe
Europe’s Bioeconomy Strategy has been updated in order to accelerate the deployment of a sustainable European bioeconomy.
Europe’s 2012 Bioeconomy Strategy focusses on the production of renewable biological resources and their conversion into vital products and bio-energy.
The major aim of the strategy is to pave the way to a more innovative, resource efficient and competitive society that reconciles food security with the sustainable use of biotic renewable resources for industrial purposes, while ensuring environmental protection. The bioeconomy covers all sectors and systems that rely on biological resources (animals, plants, micro-organisms and derived biomass, including organic waste, as well as their functions and principles).
It is important to mention that, while biotechnology is at the heart of bio-based processes, health biotechnology and biological medicines are not included in the bioeconomy definition.
A European bioeconomy can, among others, help Europe deliver on the Paris Agreement targets and lay the foundation for new growth through innovation, the creation of jobs and the maintenance of EU competitiveness.
A review from 2017 concluded that, while the objectives of this strategy had to remain valid, the scope of the actions had to be refocused.
The renewed Bio-economy Strategy draws special attention to the value of local bio-economy tactics, of rural regeneration and of sustainable management of natural resources. Europe wants to act by focusing on the following main goals:
- Strengthen and scale up the bio-based sectors, unlock investments and markets
- Deploy local bioeconomies rapidly across the whole of Europe
- Understand the ecological boundaries of the bioeconomy
In the updated strategy is mentioned that the bio-based industries have the potential to create one million new jobs by 2030. The strong and fast-growing startup ecosystem in the biotechnology sector will play a leading role in realising this potential.