The Rapid Development of Bioeconomy Policies in the EU and other Regions of the World

Abstract

SummaryIn the European Union, the bioeconomy is very broadly defined, encompassing all sectors and associated services and investments that produce, use, process, distribute or consume biological resources, including ecosystem services. It is seen as a natural enabler and result of the transformation proposed by Europe's sustainable growth strategy, the Green Deal. EU Member States and regions also have strategies to further target the implementation of the bioeconomy. The bioeconomy and its related policies have shown a rapid development in the EU and other regions of the world. In challenging times, the sustainable and circular bioeconomy is a central element in supporting the transition to an economy that is climate‐neutral, while preserving the biosphere. From the global agenda of United Nation's Sustainable Development Goals (SDGs), climate change and biodiversity, several other international organisations, global fora, and private initiatives, all provide knowledge, analyses and perspectives for the bioeconomy. Africa's bioeconomy has a huge potential as a catalyser for advancing towards many SDGs. In North America, the US has recently defined bold goals for biotechnology and biomanufacturing. South American countries foster their enormous agricultural and forestry potential in supporting the bioeconomy, while playing a key role for global climate and biodiversity.The bioeconomy in its different designs is thus an important building block for the global transformation towards a more sustainable economic system.