The bioeconomy is a broad concept covering all economic sectors that rely on biological resources, from primary production (crops, livestock, forestry, fishery and aquaculture) to related processing and service industries (food, feed, paper, textiles, built environment and construction, chemicals and pharmaceuticals, energy). Economies worldwide are increasingly developing dedicated bioeconomy strategies with about 60 countries pursuing bioeconomy-related policies. However, bioeconomy activities are not necessarily sustainable per se. Achieving a sustainable bioeconomy requires the development of comprehensive national strategies and international cooperation. The interconnectedness of global value chains underpinned by trade makes international trade a key enabler of transformative change, halting and reversing biodiversity loss and supporting markets for sustainable biodiversity use, management, and conservation as well as the sharing of benefits. Trade can help to cut costs and disseminate innovative circular goods, services and intellectual property across regions; it can create economies of scale and production capacity to optimise recovery of secondary raw biomaterials, waste and residue; trade can also enable efficient and sustainable food production in geographical regions with beneficial climates and its seamless distribution to areas of more resource and energy intensive production.
UNEP, in collaboration with The World Trade Organisation (WTO), the Secretariat of the Convention on Biological Diversity (CBD), the Food and Agriculture Organization (FAO), UN Trade and Development (UNCTAD), are hosting together an informal event with the aim to foster discussions on the role of trade-related policies for advancing a sustainable bioeconomy. The meeting will provide an opportunity for WTO delegations to exchange views and experiences on how bioeconomy strategies can provide a supportive and enabling environment that encourages investment, research, innovation and the widespread adoption of sustainable practices and technologies. Policies can be applied throughout the bioeconomy value chain and can range from sustainable agricultural and land-use policies, aligned environmental standards and regulations, and fiscal and tax incentives for bio-based products, to green public procurement policies and carbon pricing mechanisms.
