European Commission Announces New Bioeconomy Strategy
On October 11, 2018, the European Commission (EC) released a statement announcing its new action plan for a sustainable bioeconomy in Europe. The new action plan, originally announced by President Juncker and First Vice-President Timmermans in their letter of intent, aims to “improve and scale up the sustainable use of renewable sources to address global and local challenges such as climate change and sustainable development.” In his remarks, EC Vice-President for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen, emphasized the need for systemic changes as key drivers of change for the bioeconomy sector. Renewable and sustainable solutions depend on collaborative efforts by governments and industry stakeholders. Based on this premise, EC’s new strategy focuses on three key objectives that include 14 measures to be taken as early as 2019. The three objectives are to:
- Scale up and strengthen the biobased sectors;
- Rapidly deploy bioeconomies across Europe; and
- Protect the ecosystem and understand the ecological limitations of the bioeconomy.
?These long- and short-term objectives focus on modernizing the European biobased economy and call for systemic changes that will reduce the large underused biomass and waste potential. The action plan will be further discussed and outlined during a conference with stakeholders, hosted by the EC on October 22, 2018, in Brussels.