What is Bioeconomy
The bioeconomy is the production, utilization, conservation, and regeneration of biological resources, including related knowledge, science, technology, and innovation, to provide sustainable solutions (information, products, processes and services) within and across all economic sectors and enable a transformation to a sustainable economy.15 The bioeconomy is not a static notion and its meaning is continually evolving. Since its origins in the late 1960s and 1970s, in which bioeconomics applied the laws of entropy to economic questions,16 the concept has further evolved in scope and in direction around the world.17 The bioeconomy aims at reconciling the needs of humans and nature. It purses an economic system that is far superior to today’s: one that strives for achieving the UN 2030 Agenda for Sustainable Development and its Sustainable Development Goals and one which is based on sustainable economic growth, which centers on improving human well-being and social equity, while reducing resource consumption and regenerating ecosystems. Bioeconomy activities enhance economic, social, and ecosystem resilience, allowing both urban and rural communities to thrive especially during economic crises. A global sustainable bioeconomy includes all levels of society and aims at improving the quality of life for all people, while respecting biophysical limits to economic growth.