The bioeconomy – An essential economic factor and a prerequisite to achieve the SDGs

The European Economic and Social Committee (EESC) has drawn up an exploratory opinion on Bioeconomy - contributing to achieving the EU's climate and energy goals and the UN's Sustainable Development Goals (SDGs) following a request from the Austrian Council Presidency.

In this opinion, the EESC concludes that the bioeconomy creates added economic and social value by producing, converting, and using biological raw material. Furthermore, it is an essential factor to mitigate the impact of climate change, helping to achieve the EU's climate and energy targets as well as the Sustainable Development Goals (SDGs).

The bioeconomy involves replacing fossil fuels and fossil feedstock with bio-based energy and raw materials. Economic activities that are based on the production, extraction, conversion and use of biological natural resources are known as bio economy.  Waste streams, by-products and residues can be a major source of raw materials.

How does the bioeconomy help climate?

The bioeconomy contributes to climate change mitigation through several mechanisms: sequestration of CO2 from the atmosphere in biomass via photosynthesis, storage of carbon in bio-based products and substitution of fossil-based feedstock and products with bio-based ones.

The transition to carbon neutrality requires a considerable reduction in emissions as well as an increase in carbon storage, to which the sustainable use of bio-based natural resources can make a big contribution.

Consumers and civil society are essential factors to promote bio economy

"Europe needs an active and sustainable forestry management and to promote the use of wood in order to accelerate effective CO2 sequestration", says Tellervo Kyla-Harakka-Ruonala, rapporteur of the opinion. "Therefore it is important to raise awareness and help consumers make sustainable consumption decisions. We need to explain to our citizens that using high-quality wood furniture and long-lasting wood products in buildings, instead of cheaper synthetic materials, makes a huge difference to our environment."

The bioeconomy also plays an important role when it comes to transport, which is a major contributor to greenhouse gases: "Electrifying transport with energy sources produced from sustainable bio-based energy sources will help to reduce not only CO2 emissions, but also the energy bill and our dependence on foreign energy sources", explains co-rapporteur Andreas Thurner.

Last but not least, the bio economy's contribution to the Sustainable Development Goals is manifold, particularly as regards SDGs: 1, 2, 6, 7, 8, 9, 11, 12, 13, 14 and 15, with examples mentioned in the EESC opinion.

Meanwhile, the EESC is preparing an own-initiative opinion on the new opportunities that a sustainable and inclusive bio economy can open up for the European economy and on upcoming Monday, 22 October, the Commission is organising under the Austrian Presidency a high-level bioeconomy conference "Sustainable & circular bioeconomy, the European way".