The EU’s new bioeconomy strategy, adopted buy EU states, aims for a sustainable bioeconomy by 2040 and promotes the use of bio-based solutions across all relevant sectors as fossil-free alternatives.
Bioeconomy uses renewable biological resources such as plants, animals and microorganisms to produce food, energy and industrial goods.
“The transformation led by bioeconomy is already tangible across Europe, from everyday bio-based products such as beeswax lip balm and linen textiles to cutting-edge materials like car parts from olive tree waste”, said Cyprus’ agriculture minister Maria Panayiotou, for the EU presidency: “With today’s Council conclusions, we say it loud and clear: competitiveness, sustainability and homegrown innovation must be at the core of the EU’s path toward a resilient bioeconomy by 2040 and Europe’s strategic autonomy.”
According to the Council conclusions, it is important to efficiently implement existing EU law that is relevant to the bioeconomy and update national actions with the strategy. The Council backs more innovation and measures to support investment in sustainable bio-based solutions, including faster approvals and simplified rules, as well as leading global action in bioeconomy.
Creating predictable demand for sustainable bio-based materials and technologies is essential to unlocking private investment. In this context, the Council stresses the need to identify and strengthen high-potential sectors (lead markets).
These lead markets should not be limited to the ones listed in the EU bioeconomy strategy (e.g. bio-based plastics, chemicals, construction products, fertilisers) but could also be extended to additional sectors, including footwear and textile, paper, or the blue bioeconomy (e.g. the use of algae and sponges).
According to recent reports, the EU is largely self-sufficient in biomass supply (at around 90%). IN fact, across the EU, the bioeconomy supports nearly one in twelve jobs, with a workforce of 17.1 million. In 2023, the total value of the EU bioeconomy was estimated at €2.7 trillion and bioeconomy is identified as the fastest-growing sector in the Union, while safeguarding the environment and supporting circularity.
The Council now calls for ensuring sustainable biomass supply, as this is essential for the long-term viability of the bioeconomy. It calls on the EU’s member states to use biomass across value chains in a resource-efficient way that safeguards the environment and to promote the use of use of by-products, bio-waste and residues (secondary biomass).
