What is the Bioeconomy
13 April 2022
In the coming decades, the world will see growing competition for limited and finite natural resources, which is the main reason for climate change. An increasing global population will require a safe and secure food supply which will protect the ecology. Climate change will also affect primary production systems like agriculture, forestry, fishing, and aquaculture.
A transition to the most efficient utilization of renewable biological resources is required. We must move to more sustainable primary production and processing systems that can produce more food, fiber, and other bio-based products with fewer inputs, reduced environmental impact, and reduced greenhouse gas emissions.
- Biological resources and ecosystems could be utilized more efficiently, integrated, and sustainable way.
- Another significant issue is food waste. An estimated 30% of all food produced is thrown away in developed countries. Major reforms are required to lower this amount by half in the Union by 2030.
How Bioeconomic works
The Bioeconomic provides a unique chance to address complex and interconnected concerns while achieving economic growth due to its cross-cutting character. It can help Europe shift to a more resource-efficient civilization that relies more heavily on renewable biological resources to meet consumer demand, industry demand and combat climate change.
- The Bioeconomic, which includes the sustainable production of renewable resources from land, fisheries, and aquaculture environments, as well as their conversion into food, feed, fiber bio-based products, and bio-energy, as well as related public goods, is an important part of Europe’s response to the coming challenges.
- Agriculture, forestry, fisheries, and aquaculture are all part of the bio-economy, as are sectors where biological resources, such as food, are used or processed and pulp and paper industries, and elements of the chemical, biotechnology, and energy industries.
- In 2009, the Bioeconomic represented a market worth more than EUR 2 trillion, supporting 20 million jobs and accounting for 9% of overall employment in the EU.
- Investments in research and innovation will help Europe gain market leadership and contribute to achieving the Europe 2020 strategy’s main initiatives, the Innovation Union and Resource Efficient Europe
- The Bioeconomic, if managed properly, may support a wide range of public goods, including biodiversity and ecological services. It can potentially lessen the environmental impact of primary production and the entire supply chain. It can boost their competitiveness, raise Europe’s self-sufficiency, and create jobs and economic possibilities. The bio-economy has the potential to help Europe become more competitive, innovative, and rich.