European Commission approves the new EU Bioeconomy Strategy
Image: European Commission
The European Commission has adopted a new Strategic Framework for a competitive and sustainable bioeconomy in the European Union, outlining the main development directions for the materials, chemical and biotechnology sectors up to 2040. The aim of the strategy is to accelerate the transition from fossil-based resources to bio-based solutions, while strengthening Europe’s economic resilience and creating new opportunities for industry.
The importance of the bioeconomy in Europe
In 2023, the value of the EU bioeconomy reached EUR 2.7 trillion, providing employment for more than 17 million people. It plays a significant role in economic growth, innovation, and the shift towards lower-carbon production. Each job in the bioeconomy sector generates, on average, three additional indirect jobs in related industries.
Bioeconomy products and technologies already cover a broad range of fields: from bio-based chemicals and bioplastics to construction materials, textile fibres and bio-fertilisers. Demand for such solutions continues to rise, and the new EU policy foresees additional support for further development of these areas.
New mechanisms introduced by the Strategy
The Strategy introduces targeted support measures for the development of bio-based materials and technologies, including financial instruments for establishing biorefinery infrastructure, upgrading pilot-scale facilities, and promoting joint projects between industry and research institutions.
The Strategy foresees a number of actions to strengthen the deployment of bioeconomy innovations:
directing EU funding towards the development of bio-based technologies;
establishing a Bioeconomy Investment Deployment Group to attract private investment;
developing bioeconomy markets;
launching the “Bio-based Europe” alliance for joint public and private procurement;
support measures for farmers and foresters;
forming international partnerships to help European companies strengthen their position in global markets.
Links to LSIWC’s work
The European bioeconomy strategy is designed as an integrated approach covering the entire bioeconomy cycle: from sustainable biomass production and monitoring to the development of new materials and their industrial deployment. These directions are closely aligned with the Latvian scientific ecosystem, wherebioeconomy-related research is conducted by several institutions.
Within this landscape, the Latvian State Institute of Wood Chemistry works in areas that correspond closely to the priorities set out in the new EU strategy. The institute is currently engaged in a wide range of projects directly aligned with EU priorities: synthesis of bio-based chemical compounds, development of polymers and new materials, microbial and biotechnological solutions, and multi-stage biomass conversion technologies with high added value.