The emerging bio-economy represents a significant shift in socio-economic and technical systems that can result in a greater sustainable utilisation of natural resources and a major catalyst for environmental technology. The bio-economy is being made possible by the recent surge in scientific knowledge and technical competences that can be used to harness biological processes.
Bio-energy and the fast-developing bio-refinery concept – key components of the bio-economy – can respond directly to current problems (e.g. energy security, declining rural regions, environmental degradation) as well as meet the challenges of sustainable development over the long-term (e.g. climate mitigation and adaptation, improving quality of life).
The term bio-economy refers to an economy where the basic building blocks for materials, chemicals, and energy are derived from renewable biological resources, such as plant and animal sources. This type of economy can meet the requirements of sustainable development – ecologically speaking, and from a social and economic perspective.
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