Together with 25 other organisations, including trade associations, NGOs, and academia Cefic signed the European Bioeconomy Stakeholders Manifesto in order to accelerate a discussion at the EU and member state level about the development of a world-leading bioeconomy in the EU in the face of mounting global competition. The chemical industry has an interest in promoting bioeconomy due to two reasons: first, chemicals enable biotechnology and secondly, the chemical industry is increasingly using renewable resources as a feedstock to produce chemicals in order to build sustainable value chains.
Bioeconomy is the production of renewable biological resources and the conversion of these resources into food, feed, bio-based products, services, and energy. Advancing bioeconomy can further enable circular economy, improve resource efficiency and reduce carbon emissions.
The key recommendations of the Manifesto to policy-makers are to support innovation, encourage investments into bioeconomy and establish a level playing field for all players in this growing market.
The Manifesto will be officially handed to the European Commissioner for Research, Science and Innovation Carlos Moedas and will be discussed at the Bioeconomy Stakeholders Panel facilitated by the European Commission. The next steps for the consortium are to work on reinforcing the link between the circular economy and bioeconomy, share best practices among all interested stakeholders and make recommendations to the EU and the Member States on bioeconomy-supporting policies.
Read more about Cefic’s work on bioeconomy here.