2022 GGSD Forum
Session 2: Innovation in bio-economy sectors for a circular economy
Mary Maxon, Executive Director for BioFutures at Schmidt Futures, started her scene-setting presentation by highlighting that that the bioeconomy can help to meet 11 of the 17 UN Sustainable Development Goals (SDGs). Over 60 countries have adopted bio-economy strategies, and these vary along several dimensions, including the role of biotechnology. She also stressed that the bioeconomy can lead to the creation of new industrial value chains because, for instance, the waste produced by one company could become an input for another firm. Key elements of policy frameworks to promote the bio-economy should include: the adoption of credible indicators to guide decisions and investments, the development of effective bioeconomy knowledge management platforms, public procurement of bio-based products, and adoption of incentives that recognise innovative industrial value chain links. Finally, she described the US White House Bio-economy Executive Order, which is an whole-of-government initiative and provides $2 billion funding to bio-economy related initiatives. Ole Jørgen Marvik, Special Advisor for Life Sciences at Innovation Norway and Delegate to the OECD Working Party on Biotechnology, Nanotechnology and Converging Technologies (WPBNCT), highlighted that the bio-economy alone cannot address all sustainability challenges. A holistic approach that includes improved recycling and efficient energy production is needed. Then, he underlined that considerations for domestically available bioeconomy resources and their potential use by domestic firms define the scope of bio-economy strategies.
Finally, he agreed on the importance of carefully considering the innovative industrial links that the bio-economy can generate, and presented the example of Norway where CO2 captured from metallurgical industry flue gas may be used to produce aviation fuel or protein for the aquaculture industry. Giulia Gregori, Head of Strategic Planning and Institutional Communication at Novamont, also stressed that the circular bio-economy often involves partnerships between sectors that are not linked in a linear economy. For this reason, strategies and policies to support the bioeconomy need to be truly cross-sectoral. She presented the three main pillars of Novamont business model: repurposing existing industrial sites to avoid land use, use of by-products and crops that can grow in marginal lands, and focus on products that are complex to recycle or face a high risk of dispersion in the environment. She concluded by highlighting the importance of explaining the benefits of improvements in waste collection systems to consumers when new practises are introduced.
Presentation by Mary Maxon, Executive Director for BioFutures at Schmidt Futures
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