BioWEconomy – New term is suggested for a transformative bioeconomy in which social aspects are of high importance

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Type of post: OUTREACH. 

The Network of Experts on Bioeconomy has synthesised knowledge from different sources in a new report to inform policymaking on the future transitions for a Bioeconomy towards Sustainable Development and a Climate-Neutral Economy. The report proposes a new term for a sustainable, circular and transformative bioeconomy in which social aspects are of high importance: BioWEconomy. 

Figure 1. The Network of Experts on Bioeconomy calls for a bolder transition towards a circular, sustainable and transformative BioWEconomy (taken from the new report) 

The report is part of a forward-looking analysis promoted by the European Commission’s Knowledge Centre for Bioeconomy (KCB) to explore transitions towards a sustainable, clean and resource-efficient bioeconomy. In the report, the external experts reviewed and synthesised relevant knowledge and data on the current bioeconomy landscape and research & innovation developments, with a view to identifying key drivers and trends for a bioeconomy able to contribute to reaching the United Nations Sustainable Development Goals and EU climate objectives. As highlighted in the analysis, a circular and sustainable bioeconomy can be a core instrument for the European Green Deal in the post-COVID-19 era, making the EU more resilient and competitive. 

Towards the BioWEconomy (selected quotations from the report) 

“The guiding principle of being transformative is to acknowledge that various trade-offs and possible synergies are subject to societal decision making, which should not be guided by neoliberal economic logic alone: market aspects are one component of decision making, but not necessarily the dominant one.” 

“In 2018, the book ‘WEconomy’ was published in the US (Kielburger, Branson & Kielburger 2018). In the same year, two Germans published a manifesto entitled ‘Economy to Weconomy’ (Marx & Stegfellner 2018), expanding the individualistic approach to a more societal and economic view. Inspired by these developments, the insertion of the ‘WE’ into the bioeconomy to form the term BioWEconomy is already a small transformation.” 

“A circular, sustainable, and transformative BioWEconomy can mitigate several of the severe and likely risks, especially food and water crises, climate change, migration, and social instability. A circular, sustainable, and transformative EU BioWEconomy could become a role model for transforming other parts of the economy as well, helping to make the world a better and safer place for all.” 

“The BioWEconomy reaches out to new sociocultural actors (collaborative/sharing economy, commoning), and explores innovation not only in technologies but also in business modes, and social practices.”

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