Developing law for the bioeconomy

Abstract

Development of a bioeconomy is seen to offer significant possibilities to address the challenges faced by a world with a growing population, resource scarcity, environmental degradation and climate change. The technical potential for a bioeconomy is impressive. It has been estimated that over 90 per cent of oil-based products could be replaced by bio-based alternatives. However, there are several challenges, uncertainties and concerns related to the development of a bioeconomy. These include potential negative effects of increased use of biomass on biodiversity and food production, as well as health and environmental risks associated with new biotechnologies. The urgency of the problems that a bioeconomy may provide solutions to and the new sustainability challenges emerging in a growing bioeconomy indicate the need to develop regulatory regimes that make the transition to a bioeconomy more rapid, controlled and sustainable. This article discusses the key issues in developing a bioeconomy that call for regulatory intervention. Further, it explores the need for development in regulatory approaches, strategies and structures for enabling the transition to and sustaining a bioeconomy and explains why, in theory, regulatory systems based on integrative, adaptive and proactive law approaches are a promising way to meet that need.