Impacts on business

Impacts on business, science and policy

For business, the development of alternative raw material sources and product options as well as resource- and energy-efficiency are becoming attractive. This opens up opportunities for those businesses that provide alternative solutions and opens up growing markets for cleantech as innovative business solutions and development of clean technology are relevant factors behind the development of the bioeconomy and resource efficiency. Growing standards of living without the use of resources should also encourage service development creating wealth and added value unrelated to the use of natural resources.

The bioeconomy reaches across many sectors. Agriculture, fisheries, aquaculture, and forestry care for healthy ecosystems and ensure that biomass is available. Different industries, including food, energy, chemicals, pharmaceutical, forest, construction and environmental services process bio-based raw materials into every day products. In addition, technology providers work for solutions that are needed in existing and innovative bio-based value chains.

For science, a greater focus on research and innovation can provide us with new products derived from biomass and new services required for realization of the bioeconomy development. For example, there is a lot of potential to develop aquaculture and water related resources and their use. Currently less than 0,3 percent of human food comes from the oceans and other aquatic ecosystems[1].

For policy, the challenge is to manage the needed transformation. A close cooperation with business and science is needed. Policy must drive and ensure that business and individuals are enabled to work for the bioeconomy and resource-efficiency. In addition, the acceptance of the activities on natural resources is crucial.

The largest innovation and growth potential of the bioeconomy seems to be in its crosscutting nature. It brings different businesses and actors together to solve common problems. It needs close public and private partnerships.

[1] World Watch Magazine (2004). World Watch Magazine, September/October 2004, Volume 17, No. 5 (Based on FAO Statistics).

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