EU publishes updated Bioeconomy Strategy, includes €100 million investment platform

11 October, Brussels - The European Commission has published a new Bioeconomy Strategy including a set of 14 concrete actions to be launched by 2019. It represents an update on the 2012 strategy, following a review which took place last year.

New actions defined in the strategy are divided across three areas:

Strengthen and scale-up the bio-based sectors, unlock investments and markets

This includes intensifying research and development through instruments such as the BBI-JU, a €100 million Circular Bioeconomy Investment Platform, and improving standardisation and labelling to grow the market for bio-based products. There is also a specific action point on facilitating the deployment of new sustainable biorefineries.

Deploy local bioeconomies rapidly across Europe 

Within this priority, pilot actions are planned in rural, coastal and urban areas, policy support will be made available for member states and attention will be paid to developing education, training and skills needed to implement the growing bioeconomy.

Understand the ecological boundaries of the bioeconomy

This involves enhancing the knowledge base of specific bioeconomy areas including biomass availability and the status of biodiversity, to ensure the bioeconomy operates within safe ecological limits.

The strategy aims to achieve five objectives:

  • ensuring food and nutrition security;
  • managing natural resources sustainably;
  • reducing dependence on non-renewable, unsustainable resources whether sourced domestically or from abroad;
  • mitigating and adapting to climate change, and;
  • strengthening European competitiveness and creating jobs.

Read the the full Bioeconomy Strategy document here.