Following last week’s EU Bioeconomy Policy Day, EuropaBio, the European Association for Bioindustries which represents 79 corporate and associate members and bio-regions, and 17 national biotechnology associations has issued a call for an ambitious revision of the European Bioeconomy Strategy. Such a revision, they argue 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.
Since the launch of the €3.7 billion Bio-Based Industries Joint Undertaking and the Investment Plan for Europe in 2014, there have been major advances in bio-based innovation.
But the Brussels based association, believes they are “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, a revised EU Bioeconomy Strategy they state should address:
- Biomass: Circular bio-economy should be an integral part of EU-level frameworks and policies;
- Investment: Increase funding and improve coherence of financing mechanisms for the circular bio-economy;
- 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.
As the voice of the industrial biotechnology industry in Europe, which is predicted to contribute between €57. 5 billion and €99,5 billion and well above 1 million jobs to the EU economy by 2030, 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
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