On October 11th, 2018 has been published on the web site of European Commission the updated European Bioeconomy Strategy. Six years after the first publication of the document (February 2012), the European Commission has examined its development and progresses, and has concluded that, even though the objectives of the 2012 Bioeconomy Strategy remain still valid, the scope of the actions have to be refocused.
This update aims to set news challenging objectives, and proposes a three-tiered action plan in order to:
- 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, and build an EU-wide international monitoring system to track progress.
The document estimates that putting the strategy in place could create up to 1 million jobs in industrial biotechnology sectors by 2030, and help mitigate climate change by reducing carbon dioxide emissions by up to 2.5 billion tons annually.
The update also responds to new European policy priorities, in particular the renewed Industrial Policy Strategy, the Circular Economy Action Plan and the Communication on Accelerating Clean Energy Innovation, all of which highlight the importance of cooperation between private and public actors, then need to work jointly for the development of new biorefineries as well as to define label and market standards for bio-based products.
Moreover, the involvement of all the local realities is encouraged through actions aimed at developing and strengthening rural and urban areas.
For more information, you can read the updated European Bioeconomy Strategy attached, as well as the related press release and the webpage on the European Commission website.