The European Commission has presented an action plan for the development of bio-economy, which envisages the passing of a range of concrete measures toward the strengthening of that segment of the economy, which encompassed all sectors and systems which depend on biological resources, in 2019.
The bio-economic segment of the European Union, with an annual income of nearly EUR 2 billion and 18 million employees, encompasses the agricultural sector, forestry, fishing and food products and is crucial for the development of rural and coastal areas, Hina reports.
– In a world of finite biological resources and ecosystems, an innovation effort is needed to feed people, and provide them with clean water and energy. The bio-economy can turn algae into fuel, recycle plastic, convert waste into new furniture or clothing or transform industrial by-products into bio-based fertilizers. It has the potential to generate 1 million new green jobs by 2030 – the Commission says.
The EC announces that 14 concrete measures for the development of bio-economy will be adopted in 2019.
The EU already funds research, demonstration and deployment of sustainable, inclusive and circular bio-based solutions, including with EUR 3.85 billion allocated under the current EU funding program Horizon 2020. For 2021-2027, the Commission has proposed to allocate EUR 10 billion under Horizon Europe for food and natural resources, including the bio-economy.