EuropaBio welcomes renewed commitment to the EU Bioeconomy

EuropaBio is pleased to welcome the publication of an updated EU Bioeconomy Strategy. The updated plan signals the EU’s continued commitment towards establishing itself as a world leader in renewable resource efficiency, catalysed by transformative industrial biotechnology.

Europe’s leadership in this field has already significantly boosted activity, investment, technological breakthrough and interest in developing dynamic bioeconomies throughout the Member States and regions.

An innovation-driven bioeconomy, with increased sustainability as its end goal, is now also providing renewability, circularity and multifunctionality whilst helping to deliver solutions to the UN SDGs. Industrial biotechnology plays a central role as an enabling technology, using smart science to develop a wide variety of renewable, bio-based chemicals, materials, pharmaceuticals, food, feed and fuels.

Since the publication of the first EU strategy in 2012, the increase in EU R&I funds has also resulted in real progress towards the development of a bio-based economy, with the €3.7 billion Bio-based Industries Joint Undertaking (BBI JU) attracting investments, spurring innovation and creating new value chains.

Commenting on the strategy launch, Agnes Borg, Director for Industrial Biotechnology at EuropaBio said: “We now call on the EU to shore up the updated strategy with a comprehensive high-level commitment towards building upon the success of the BBI JU. This will create jobs and growth and will help establish the EU as hub for renewable, resource efficient clean-tech on the road to 2030”.