On Nov. 27, the European Commission adopted a new Strategic Framework for a Competitive and Sustainable European Bioeconomy, charting a course to build a clean, competitive and resilient European economy.

The EU Bioeconomy Strategy aims to unlock the great potential of the Bioeconomy by increasing innovation and investment, developing markets for bio-based materials and technologies, ensuring a sustainable supply of biomass, and exploiting global opportunities.

To drive the biotech revolution, innovation and investment must be scaled up so that research does not remain in laboratories. Scaling up bio-based innovations requires a combination of public and private investment, as well as a more streamlined regulatory environment.

The Commission will work to create a consistent and simplified regulatory framework that rewards circular and sustainable business models while safeguarding EU safety standards. Faster, clearer and simpler approvals for innovative solutions will support companies in developing and growing in Europe, especially for SMEs.

The Commission will also ensure that current and future EU funding is allocated to biobased technologies. And to stimulate private investment, the Commission proposes to convene a Bioeconomy Investment Deployment Group to create a bankable project portfolio, share risk more effectively, and engage private capital.

To unlock investment and enable expansion, the Commission has identified innovative markets for bio-based materials and technologies. These include bio-based sectors, such as plastics, fibers, textiles, chemicals, fertilizers, plant protection products, building materials, biorefineries, advanced fermentation, and permanent storage of biogenic carbon, which have high potential for both economic growth and environmental benefits. The Commission will increase demand for bio-based content in products, such as by setting targets in relevant legislation.

The Strategy proposes to establish a Bio-based Europe Alliance, which will bring together EU companies to collectively purchase €10 billion worth of bio-based solutions by 2030.

With this Strategy, the EU will support European industry in accessing global markets by ensuring partnerships that reduce vulnerability and ensuring that Europe is not dependent on a single region or resource. In the current fragile geopolitical climate, resource security strengthens the EU’s competitiveness and resilience.