New bioeconomy strategy aims climate neutrality by 2035

Finland aims to double the value added of bioeconomy in an ecologically, socially and economically sustainable manner and to make Finland climate neutral by 2035, according to the new Bioeconomy Strategy.

The project to update the Bioeconomy Strategy, which was taken in in summer 2020 has been completed, said the Ministry of Agriculture and Forestry, Ministry of Economic Affairs and Employment and Ministry of the Environment in a joint press release on Friday.

Bioeconomy is an exceptionally important sector for Finland. In 2019, it generated a value added of EUR 26 billion, which corresponds to 13% of the value added generated in the national economy.

“Bioeconomy is an exceptionally important part of Finland's national economy. The strategy’s new direction focuses on increasing the value added. In particular, we have wanted to highlight the use of new bio-based products in the textile industry, pharmaceutical industry and even as battery materials. All this is based on sustainable use of renewable raw materials,” said Minister of Economic Affairs Mika Lintilä.

Bioeconomy is based on production that makes use of renewable natural materials in a sustainable manner and develops and deploys related innovations and technologies. In Finland, services that utilise nature, such as nature tourism, are also part of the bioeconomy.

It recognised increasing the value added of bioeconomy as an important priority area that other strategies do not comprehensively address. Its measures implement the objectives of several other strategies, such as the forest strategy, the industrial strategy and the Clean Planet for all.

The strategy’s measures are divided under four categories- Higher value added from bioeconomy, a strong knowledge and technology base, a competitive operating environment and usability and sustainability of bioresources and other ecosystem services. The strategy also includes sector-specific measures.

Value added is sought by developing new raw materials, manufacturing methods, products and services, by increasing the value added and resource efficiency, and by utilising side streams and circular economy operating models.

There are promising developments in sectors such as forestry, food and energy production, pharmaceutical, chemical and textile industries, water supply, fisheries, aquaculture, tourism services and the natural products sector.

The objectives of the Bioeconomy Strategy by 2035 are doubling the value added of bioeconomy, creating competitive and innovative bioeconomy solutions to global problems, generating business that promotes renewal both to the domestic and international markets, which will bring wellbeing to Finland as a whole, increasing the resource-wise use and recycling of materials and utilise side streams, reducing dependency on fossil fuels and other non-renewable raw materials, ensuring ecological sustainability, social justice and the renewal capacity of renewable natural resources and to strengthening broad-based competence in the bioeconomy and improving and reforming the technology base.

The measures to increase the value added of bioeconomy include implementing an RDI programme for the green transition of bioeconomy, and promoting the establishment of innovative pilot and demonstration facilities and the first industrial-scale plants in Finland.