European Commission steps up action to boost the bioeconomy

Three new initiatives aim to strengthen investment, market deployment and implementation of the EU Bioeconomy Strategy.

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The European Commission has launched three complementary initiatives to accelerate the implementation of the EU Bioeconomy Strategy and support the growth of Europe’s bio-based industries.

A key element is the creation of the Bio-based Europe Alliance (BEA), which will connect producers of bio-based materials, products and technologies with major European buyers. The Alliance aims to mobilise €10 billion in corporate offtake commitments by 2030, helping innovative companies scale up and reach commercial deployment.

At the same time, the Bioeconomy Investment Deployment Group (BIDG) held its first meeting. The group brings together commercial banks, venture capital funds, promotional banks and institutional investors to improve access to finance and increase investment in the bioeconomy sector.

The Commission has also established a new Expert Group on Bioeconomy, which will support Member States in implementing the EU Bioeconomy Strategy, monitoring progress and developing national and regional bioeconomy policies. The group’s first meeting will take place on 12 June in Brussels.