Industrial biotech sector calls for an ambitious revision of EU Bioeconomy Strategy
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