The bioeconomy needs economic, ecological and social sustainability

Abstract

The economic concept of the circular bioeconomy addresses not only the sectors of the traditional bioeconomy but also, in particular, the sectors of bio-based chemicals and energies as well as waste management. This concept is basically based on closing material cycles, in particular, but not only, that of carbon. Managing these material cycles is costly, which is why economic sustainability and, in the current transition phase, competitiveness with fossil-based value chains remain a constant challenge. Because of the large material turnover of the mentioned industries, in the interest of environmental sustainability the circular bioeconomy has to respect the limits of natural resources. With the raw material shift from fossil to renewable resources, regional economic structures and jobs will change and, in addition, circularity requires a change in consumption behavior. Both are challenges that need to be addressed in the interest of social acceptance and sustainability. The article focuses on the economic, but addresses also the ecological and social aspects, discusses options for achieving a comprehensively sustainable circular bioeconomy, and identifies research needs necessary for the further development of the bioeconomy.

Keywords

• circular bioeconomy
• economic sustainability
• ecological sustainability
• social sustainability
• chemical industry