The Bio-Based Economy: What’s Holding It Back?

As pollution and climate change become growing problems, breaking society’s addiction to fossil fuels is a daunting task. What are the main obstacles holding European biotechs back from building a more sustainable economy and how can we resolve them?

Modern society’s dependence on fossil fuels is unsustainable. Although the Covid-19 pandemic caused a 7% drop in carbon dioxide emissions in 2020 compared to 2019, atmospheric greenhouse gases continue to increase. Additionally, products derived from fossil fuels, such as plastics, are highly polluting and will become more scarce in the long run.

Policymakers in the EU have taken this problem to heart and have pushed through the European Green Deal, which aims to make the EU climate neutral by 2050.

A promising way to meet this target is to replace fossil fuels with bio-based sources of chemicals, food additivestextiles, and even metals. Bio-based sources can include plant crops, waste biomass, and microorganisms like algae and bacteria. Having an economy tied to these sources — a bioeconomy — could mean that we produce less waste and establish a circular economy.

The circular economy is, in my view, imminent,” said Ullrich Stein, Project Manager at Berlin Partner, a company that helps technology companies find funding.

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Published on Wed, 06 Jan 2021 14:25:47 +0000 and brought to you by Apptigent PowerTools