EuropaBio, the European Association for Bioindustries, has called for an ambitious revision of the European Bioeconomy Strategy.
According to the trade body, such a revision would help tackle climate change and meet the needs of a growing population whilst boosting Europe’s resource efficiency, competitiveness and long-term economic growth.
“To achieve this, the revision must put in place a coherent and holistic policy and financial framework to support access to sustainably produced biomass, foster investments and further develop the market for bio-based products,” said Joanna Dupont Inglis, EuropaBio’s director for Industrial Biotech and Cross-Sector Strategy.
Launched and adopted on 13 February 2012, Europe's Bioeconomy Strategy addresses the production of renewable biological resources and their conversion into vital products and bio-energy.
Since the launch of the €3.7 billion Bio-Based Industries Joint Undertaking and the Investment Plan for Europe in 2014, there have been remarkable and inspiring advances in bio-based innovation.
However, EuropaBio said that Europe is yet to see “impactful progress on commercialisation of bio-based products”.
To overcome this hurdle and fulfil the bioeconomy’s potential for Europe’s competitiveness and growth, EuropaBio said a revised EU Bioeconomy Strategy should address:
- Biomass: Circular bioeconomy should be an integral part of EU-level frameworks and policies;
- Investment: Increase funding and improve coherence of financing mechanisms for the circular bioeconomy;
- Investment: Secure the Bio-Based Industries Joint Undertaking (BBI JU) 2.0;
- Markets: Incentives for bio-based products in strategic sectors;
- Markets: Promote bio-based products’ visibility to stimulate market demand.
The industrial biotechnology industry in Europe is predicted to contribute between €57.5 billion and €99.5 billion and more than one million jobs to the EU economy by 2030, according to EuropaBio.
EuropaBio is a fully committed partner in this discussion through platforms including:
- The European Bioeconomy Stakeholders Panel and its work on the development of a Bioeconomy Manifesto, chaired by Joanna Dupont-Inglis, Director for Industrial Biotechnology and Cross Sector Strategy at EuropaBio;
- The European Commission Expert Group for Bio-based Products through its recommendations for a revision of the Bioeconomy Strategy;
- The European Bioeconomy Alliance and it’s policy asks for a Bioeconomy strategy revision;
- EuropaBio’s recommendations for a world leading EU bioeconomy and other contributions to ongoing debates about the future of the bioeconomy