EUBA members, representing key stakeholders along the bioeconomy value chains, today propose a set of policy recommendations for the upcoming revision of the EU Bioeconomy Strategy and related Action Plan. In its “Policy asks for the bioeconomy strategy revision” ,it calls for concrete measures and long-term support for sustainably-produced biomass, fostering investment and market development.
European policymakers must fully recognise and help achieve the potential of the bioeconomy if Europe is to become a global leader in this field. The bioeconomy is already worth €2 trillion annually and employs 22 million Europeans. In a stable investment and policy environment, it will boost competitiveness and long-term economic growth and contribute to over-arching goals such as the United Nations Sustainable Development Goals. The bioeconomy is key to a truly circular economy.
The EUBA document outlines what needs to be done at EU level to create a strong framework to support investments throughout the value chains, and enhance EU-grown biomass mobilisation and market access for bio-based products made in EU.
The five policy asks are as follows:
Biomass: Circular bioeconomy should be an integral part of EU-level frameworks and policies;
Investment: Increase funding and improve coherence of financing mechanisms for the circular bioeconomy;
Investment: Secure the Bio-Based Industries Joint Undertaking (BBI JU) 2.0;
Markets: Incentives for bio-based products in strategic sectors;
Markets: Promote bio-based products’ visibility to stimulate market demand.
“The time has come for an ambitiously-revised EU Bioeconomy Strategy and a time-bound well-implemented Action Plan” says Jamie Fortescue, Managing Director of Starch Europe, on behalf of the European Bioeconomy Alliance. “This is of utmost importance to foster investments in EU-grown biomass and biorefineries across Europe.
