The Strategy comes at the right moment, Europe is about to launch a number of EU initiatives impacting the future of the bio-based industries. Hence, we welcome the inclusion of an action plan and timeline, particularly as we have long advocated for measures that strengthen the industrial dimension of the bioeconomy.

The Strategy also offers a solid analysis of the barriers hindering investment and market development.

More important than the Strategy will be the timely and rapid implementation. Whilst obstacles are recognised and an action plan has been presented, concrete steps are needed for Europe’s bioeconomy to reach its full potential.

A continued Circular Bio-based Europe Joint Undertaking (CBE JU) would help address the first innovation “valley of death.” But for the bioeconomy to deliver real market impact, specific measures must also tackle the second innovation “valley of death” (from demonstration to production scale) and support the creation of lead markets. Although we welcome proposed targets for bio-based plastics and polymers, the broader lead-market measures outlined in the Strategy do not go far enough.

There is clear evidence that the EU has sufficient biomass resources to enhance autonomy and competitiveness, including the sustainable use of first-generation agricultural biomass (such as starch, sugar and oilseed crops) for non-food applications without jeopardising food supply. Europe must ensure that there is access to all types of sustainably sourced biomass.

“Time is money”, says Dirk Carrez, Executive Director of BIC. “We urgently have to translate the strategy into concrete, bold and ambitious measures that will stimulate the market demand for bio-based products, and actions that will facilitate access to finance for innovative investments. BIC stands ready to support the European Commission throughout the implementation process.”