Europe urgently needs to create durable jobs and growth; and decarbonise all sectors of its economy. To meet the Paris Agreement targets, the EU has committed to 40% emission reduction by 2030 and at least 80% reduction by 2050. Sustainable growth of the bioeconomy is crucial to solving many of these challenges. The bioeconomy is already large, covers a wide range of sectors and has a strong foundation for further growth. But the promise of the bioeconomy is not currently being realised. Driven in part by a loss of trust in biofuels arising from concerns about broader environmental impacts and unintended effects on food prices, both policy and investment signals have been dampened in recent years, resulting in a loss of momentum and missed opportunities.
About the Scania Studio
Biofuels and other bioproducts have an important role to play in creating high-quality durable jobs and growth in Europe, ensuring that the transition to a low-carbon economy is not only sufficiently fast, but also fair. The bioeconomy as a whole employs around 18 million people in Europe today – around 9% of the total workforce. Industry estimates suggest that in industrial biotechnology alone, an additional 500,000 – 1,000,000 jobs could be created between now and 2030. Scania has begun an initiative based on the belief that the only way we can truly leverage the potential of a sustainable bioeconomy is by conscious, collaborative commercial and policy action with a shared vision for the future.
At The Xynteo Exchange this year, Scania will host a Studio working to develop solutions emerging from this initiative. Leaders from business, policy, research and civil society operating in the bioeconomy space will work together to advance commercial concepts aimed at increasing access to sustainable biomass feedstock, growing the uptake of bio-based transport and energy fuels, achieving the potential of non-energy biomaterials, and stimulating engagement with bio-based industries among consumers and policy-makers.
On day one, we will test and measure emerging concepts against the commercial and regulatory realities of the bioeconomy space and collaborate on ways to overcome identified barriers. On day two, we will visualise more concretely how these concepts might operate, and what they might require for successful piloting. Finally, we will select some of the most promising of these to take to the Marketplace.