Description

The unsustainable use of bioresources has contributed to the depletion of non-renewable resources and significant environmental degradation. Research indicates that climate change remains the greatest threat to the planet. As a result, there is a growing shift in how economies are organized, with increased emphasis on renewable bioresources. Developing a robust bioeconomy is gaining traction globally. The promotion of bioeconomies has been placed high on the political agenda — a notable example being the 2021 United Nations Climate Change Conference (COP 26/CMP 16/CMA 3), held in Glasgow, Scotland. While the interest in bioeconomy has largely been driven by the desire to mitigate the negative impact of traditional economies on the climate and environment, it also holds the potential to create entirely new sectors of economic activity. This goes beyond merely substituting current products and services, focusing instead on innovating new products and services. Figure 1 highlights a range of potential bio-products.