The BIC position paper “The BBI JU – An Institutional PPP supporting the Bioeconomy Strategy” describes the current and future impacts of the Bio-Based Industries Joint Undertaking (BBI JU).
The BBI JU - a unique Joint Undertaking - aims to invest € 3.7 billion in bio-based innovation between 2014 and 2020: € 975 million have been committed by the European Commission and € 2.7 billion by the private sector. Already today, for every euro of public funding BBI JU expects to leverage € 4,4 of private financial contributions: in the first 3 years, bio-based industries have reported € 192 million in-kind operational project contributions and € 1.95 billion of additional activities. The BBI JU contributes to green growth in Europe, reindustrialisation and development of rural areas, and helps the transition towards a Circular and Low Carbon Economy creating new markets for bio-based products and finding synergies between European financial instruments.
The concept of the circular economy is about using the planet’s resources efficiently and sustainably to prevent irreversible environmental degradation and resource depletion. The circular economy seeks to break away from the linear economy characterized by “make, use, dispose” in favour of a more circular model based on “reuse, recycle or biodegrade”. The bioeconomy is a perfect illustration of circularity in that it regenerates CO2 and uses renewable raw materials to make greener everyday products.
A sustainable waste management system that fully uses the potential of agricultural, forestry and municipal (biogenic) wastes will be essential to enable the circular economy and can supply the bioeconomy with recycled raw materials. Key policy asks: (1) Ensure access to biomass ; (2) Promote industrial symbiosis and boost secondary raw materials; and, (3) Promote bio-based packaging.
Biorefineries are processing facilities that convert biomass into food, food ingredients, feed, chemicals, materials, fuels and energy using a wide variety of conversion technologies in an integrated manner. A common goal for biorefineries is to use all parts of the biomass raw material as efficiently as possible, i.e. maximising the economic added value, while minimising the environmental footprint.