Bioeconomy: The Challenge in the Management of Natural Resources in the 21st Century

Abstract

Countries and regions around the world face a number of economic, environmental and social challenges. Increased demand for energy, primary resources (agricultural, forestry and fishing), industrial products and services (healthcare in particular) put significant pressure on the sustainability of the ecosystems that support our society. One option to provide a more sustainable base for the economy would be the transition towards bioeconomy in which the importance of biotechnology and biomassbased production to generate economic output is significantly greater than today. Bioeconomy is considered to encompass all economic activity connected with the utilization of renewable biological resources. The aim of this paper is to draw attention to the importance of bioeconomy in the management of natural resources in the 21st century, providing many answers to resolve the previous challenges together with environmental preservation. The concept has gained scientific and political attention during the recent years, especially in Europe but also globally. From the review and analysis of the literature, this paper addresses the emerging bioeconomy, definitions and conceptual bases, and its great potential in different sectors of economic activity and development of new products. Special emphasis is placed on the case of the European Union. We present the concerns of European authorities at this level and best practices already in force in two Nordic countries that can be regarded as the beginning of a general transition to bioeconomy.

Bioeconomy as a Concept for the Development of Agriculture and Agribusiness

“…Therefore, bioeconomy is an advanced systemic innovation, a way to depart from the current economic model based on non-renewable raw materials and fuels. Bioeconomy includes three elements drawn from latent values in biological resources, bioprocesses, and biotechnologies in the form of: advanced knowledge of genetics and complex cellular processes; application of this knowledge to develop new production processes and products; practical application of biotechnology in various sectors of the economy (Leitao, 2016). In the third approach, bioeconomy is regarded as a form of smart measures as part of strategic planning and interdisciplinary financing of scientific and research activities and of using intellectual capital.…”

Bioeconomy related perspectives for boosting agriculture development in Romania

“…It is to be highlighted that based on their need for natural resources as raw materials, it is considered that the present economic models cannot be sustained in the future, if the consumption pattern is maintained unchanged. The human or social cost of the collateral damage produced (environmental pollution and its consequences on health) is not included in the Gross Domestic Product (GDP) formula (Leitão , 2016).…”

Bioeconomy for sustainable development in Nigeria: Lessons from international experiences

“…In order to unlock the value hidden in bio-resources and bio-processes to address complex problems in a sustainable manner, bioeconomy involves three elements: (i) the use of advanced knowledge of genes and complex cell processes to develop new processes and products, (ii) the use of renewable biomass and efficient bioprocesses to support sustainable production, and (iii) the integration of biotechnology knowledge and applications across sectors (14).…”

“…Bioeconomy encompasses the production of biomass, either through primary production (from agriculture, forestry, fishing, aquaculture and industry) or through the collection of waste streams; and the use of biomass for food, energy and material uses while bio-based economy is part of the overall bioeconomy and addresses only the use of biomass for materials, energy, chemicals and other bio-based processes, with the explicit exclusion of food. However, the two terms are used interchangeably (14,18).…”