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€100 million circular investment platform part of new EC bio-economy strategy.

Posted on Oct 17, 2018 10:52:56 AM

EC StrategyLast week the European Commission announced its action plan to further develop a sustainable and circular bio-economy in Europe. As announced by President Juncker and First Vice-President Timmermans in their letter of intent accompanying President Juncker's 2018 State of the Union Address, the new bio-economy strategy is part of the Commission's drive to boost jobs, growth and investment in the EU. It aims to improve and scale up the sustainable use of renewable resources to address global and local challenges such as climate change and sustainable development. The team in Brussels are keen to underline the variety of opportunities the bio-economy offers, using algae into fuel, recycling plastic, converting waste into new furniture or clothing and transforming industrial by-products into bio-based fertilisers. These opportunities, it is claimed have the potential to generate 1 million new green jobs by 2030.

Vice-President for Jobs, Growth, Investment and Competitiveness Jyrki Katainen ( @jyrkikatainen ) said: "It has become evident that we need to make a systemic change in the way we produce, consume and discard goods. By developing our bio-economy – the renewable segment of the circular economy – we can find new and innovative ways of providing food, products and energy, without exhausting our planet's limited biological resources. Moreover, rethinking our economy and modernising our production models is not just about our environment and climate. There is also great potential here for new green jobs, particularly in rural and coastal areas."

Commissioner for Research, Science and Innovation, Carlos Moedas ( @Moedas ) , added: "The EU aims to lead the way in turning waste, residue and discards into high value products, green chemicals, feed and textiles. Research and innovation plays a key role in accelerating the green transition of the European economy and in meeting the United Nations Sustainable Development Goals."

 

 

To drive this collective effort, and based on three key objectives, the Commission will launch 14 concrete measures in 2019, including:

1. Scaling up and strengthening the bio-based sectors:

The Commission will:

  • establish a €100 million Circular Bioeconomy Thematic Investment Platform to bring bio-based innovations closer to the market and de-risk private investments in sustainable solutions;
  • facilitate the development of new sustainable bio-refineries across Europe.

2. Rapidly deploying bio-economies across Europe:

Member States and regions, particularly in Central and Eastern Europe, have a large underused biomass and waste potential. To address this, the Commission will:

  • develop a strategic deployment agenda for sustainable food and farming systems, forestry and bio-based products;
  • set up an EU Bioeconomy Policy Support Facility for EU countries under Horizon 2020 to develop national and regional bioeconomy agendas;
  • launch pilot actions for the development of bioeconomies in rural, coastal and urban areas, for example on waste management or carbon farming.

3. Protecting the ecosystem and understanding the ecological limitations of the bio-economy

Our ecosystem is faced with severe threats and challenges, such as a growing population, climate change and land degradation. In order to tackle these challenges, the Commission will:

  • implement an EU-wide monitoring system to track progress towards a sustainable and circular bio-economy;
  • enhance our knowledge base and understanding of specific bio-economy areas by gathering data and ensuring better access to it through the Knowledge Centre for the Bio-economy;
  • provide guidance and promote good practices on how to operate in the bio-economy within safe ecological limits.

The Commission is hosting a conference on 22 October in Brussels to discuss the action plan with stakeholders and highlight tangible bio-based products.

Background

In their letter of intent to the Presidencies of the European Council and Parliament, President Juncker and First Vice-President Timmermans announced this Communication as part of the Commission's priority to boost jobs, growth and investment in the EU. It is an update to the 2012 Bioeconomy Strategy.

Issue #11 of the Bio-Based World Quarterly now available The bioeconomy covers all sectors and systems that rely on biological resources. It is one of the EU's largest and most important sectors encompassing agriculture, forestry, fisheries, food, bio-energy and bio-based products with an annual turnover of around €2 trillion and around 18 million people employed. It is also a key area for boosting growth in rural and coastal areas.

The EU already funds research, demonstration and deployment of sustainable, inclusive and circular bio-based solutions, including with €3.85 billion allocated under the current EU funding programme Horizon 2020. For 2021-2027, the Commission has proposed to allocate €10 billion under Horizon Europe for food and natural resources, including the bioeconomy.


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About the Author

Luke Upton
Luke Upton
Luke is the editor and co-founder of Bio-Based World has edited this site since its launch and previously worked for b2b media companies across industries including energy, advertising and sport. His ...read more