BioP2P staff
In March 2023, the Biden Administration unveiled its Bold Goals for the Bioeconomy. At the same time, many governments and corporations set Net Zero goals for decarbonization in the next 25 years. Jim Lane, editor of Biofuels Digest, argues to achieve the stated goals in the timeline outlined by the administration and the various adopters of Net Zero goals, bold actions will be necessary.
Lane lays out a series of 40 actions to accelerate the Bioeconomy in a series of slides on the Biofuels Digest website. The Bold Actions are the creation of the Bold Goals Action Group, a group of more than 100 organizations who met between September 2023 and February 2024 in Sydney, San Francisco Ottawa and New Delhi. They include actions that industry, government, and the financial sector will need to take.
It is a comprehensive list of actions that include creating a better understanding of the availability of biomass resources and their availability, creating better infrastructure for such things as pre-processing, warehousing, and transporting these materials.
Compressing the time to move from discovery to products is also critical. Tied to this are actions to spread the growth of bio-based production, taking steps to de-risk bio-based production, and the use of partnerships, policies, and incentives to attract private sector capital into the industry.
Other issues addressed include the need to better transfer technology from the lab to the market, train the workforce, and foster collaboration between industry and government to support commercial-scale projects.
“The bioeconomy is the one, true global industry, because it shares with people the dependency on land and water; where people are abundant, so is biomass,” writes Lane. “International bodies, agencies, and leaders can play a catalytic role in accelerating the bioeconomy transition. Yet, global organizations to coordinate this inherently worldwide economic effort in innovation and sustainable deployment and few in number, young, and lacking in unified purpose.”
The full multi-slide guide can be found here.