Setting the scene for future developments in the bio-based sector

The high-level conference ‘The Bioeconomy - Enabling the European Green Deal in Challenging Times’ took place on 6 and 7 October in Brussels, where more than 1300 stakeholders joined both in person and online to discuss about the state of the art and the future of this key and fast-growing policy.

During the two-days conference the findings of the EU Bioeconomy Strategy Progress Report were presented, highlighting the successes achieved and the challenges lying ahead, while recognising the contribution of bioeconomy on a different number of EU strategies, such as the Green Deal, Farm to Fork, Biodiversity and Soil strategies among others. Multiple speakers underlined the local and regional dimension of bioeconomy, with one-size-fits-all approach being unsuitable for bio-based industries, and praised the development of numerous national bioeconomy strategies throughout Europe. Still, the sector has much untapped potential and more investments must be unlocked to support the transition towards a sustainable European Union and the creation of resilient bio-based value chains. The EU bioeconomy has been presented as one of the most powerful available tools to ensure Europe’s sustainable future, which requires a shift in both the production and the consumption patterns. In addition, bioeconomy has been labelled as strategic when it comes to food and energy security during the current geopolitical instability, but the necessity to address trade-offs to avoid environmental damages was also acknowledged. In this regard, resource efficiency was highly debated, as the balance between ecological planetary boundaries and biomass availability and the “cascading principle” were trending topics on both days of the Conference. Innovation-regulation difficult relationship has also been covered, with the second not always adapting fast enough to the first, resulting in unintended consequences for the market. Crucial steps to boost the international cooperation in the field of bioeconomy have been identified, with joint research, joint training programs and open data sharing as cornerstone elements.

Please find the key-note speech from Mairead McGuinness, EU Commissioner for financial services, financial stability and Capital Markets Union, here.
More information about the EU Bioeconomy Conference 2022 can be accessed here.
Click here for the presentations and media.