Why the European Biosolutions Coalition Is Important

Identifying and overcoming European regulatory barriers that hold back the diffusion of biotech solutions in the agro-industrial and environmental fields. This is the goal of the European Biosolutions Coalition, an international entity established last October 26th in Brussels, with which Assobiotec, Federchimica’s national association for biotechnology development, has just signed an agreement.

At present, the coalition brings together national and sectoral business and industry associations, such as Danish Industry, an association representing some 20,000 companies in Denmark, and VNO-NCW, the Dutch Confederation of Industry and Employers. The Austrian Industry Federation, IV, and Economiesuisse, the Swiss Business Federation, are also members.

And new memberships are expected in the coming months. In addition to identifying legislative barriers to the development and commercialization of biobased products in Europe and the policy actions needed to overcome them, the European Biosolutions Coalition aims to raise awareness among policymakers about the benefits and possibilities of biosolutions for a more sustainable future and to disseminate correct information among stakeholders, member states and European institutions.

Read more aboput the European Biosolutions Coalitiona dn find the latest business news of the day with the Born2Invest mobile app.

The agreement with Assobiotec

“Biotechnologies applied in agriculture and industry are an extraordinary resource for sustainable development, and they can play a key role in providing a concrete response to the great challenges of our time: the need to produce more food with fewer resources, the preservation of biodiversity, the fight against climate change or the urgency of adopting a one-health approach, just to name a few,” explained Elena Sgaravatti, vice president of Assobiotec.

“Despite this, however, still too many cultural and regulatory barriers hold back their development at the community and national levels.” Sgaravatti recalls, in fact, that the legislative process to approve and commercialize a bio-based product is about 2 to 3 years in countries such as China and the U.S., while in Europe it takes 5 to 10 years with a significant loss of competitiveness. “Unfortunately, there is still a lack of awareness of the extraordinary value and potential that this sector has, including in terms of economic opportunities, growth and employment,” the Assobiotec vice president pointed out.

Yet, as Sgaravatti reports, bio-based products and biofuels, according to data from the European Commission, account for about 57 billion of Europe’s annual turnover and lead to the creation of at least 300,000 jobs in the Old Continent.

Not only that, it is estimated that, by 2030, the potential of biosolutions will create a global economic impact of more than 400 billion, with a growth of more than 165 percent since the early 2020s.

“Our membership today in the European Biosolutions Coalition is meant to be a contribution that the Italian National Biotechnology Association also offers to bring down the many cultural and regulatory barriers that are leaving Europe on the sidelines of a global revolution: that biorevolution, on which the future of the Planet is being built,” the vice president concludes.

The potential of biosolutions

“We are very honored to welcome our Italian partners from Assobiotec into the European Biosolutions Coalition,” said Sofie Carsten Nielsen, Director European Biosolutions Coalition. “The potential of biosolutions is enormous and can help Europe achieve its sustainable development goals. But to tap this potential we need more decision makers, especially in Europe, to understand what biosolutions are and know their potential,” Carsten continued.

“Commission President Ursula von der Leyen is making biotechnology and biosolutions a priority for the EU, and this is something very important. We must now act so that many more biosolutions can reach European markets to solve the challenges of the green transition and protect Europe geopolitically, economically and in terms of future green jobs.”

__

(Featured image by Kenny Eliason via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in  StartupItalia. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.