New Report by Intesa Sanpaolo: in EU5 the bioeconomy is worth €1.22 trillion

Berlaymont, European Commission’s Headquarter in Brussels
In 2015, bioeconomy in Italy has shown a production potential amounting to 251 billion euro, equal to 8.1% of the total value of national production, employing approximately 1.65 million people. Italy is in third position. Germany is first with a production worth €327 billion (6.1%) and France second with €285 billion (7.5%). Spain is fourth (€212 billion, 10.8%) followed by the UK (€147 billion, 4.7%)). In these five countries, the bioeconomy is worth €1.22 trillion.

The Intesa Sanpaolo Research Department (Intesa Sanpaolo is one of the major banking group in Europe) today presented in Naples their third report dedicated to bioeconomy, which, in line with the definition of the European Commission, was defined as the set of activities using renewable natural resources to produce goods and energy, generating great advantages in terms of sustainability.

In Italy, bioeconomy has significant prospects of growth in the next few years, thanks to the presence of a core team of players in the downstream supply chain of bioindustry. On the basis of existing technologies, the chemical productions that can potentially be converted into bio-based ones are just under 40%, in Italy.

Developing an economy that grows while respecting the environment and reducing dependence on non-renewable resources, such as fossil fuels, is regarded as a priority for Europe. It is, therefore, important to understand the economic potential of bioeconomy, that is the set of activities that produce and use natural raw materials from agriculture, to food industry, to timber and paper industry, to a part of the chemical industry.

Last November the Italian government presented its own strategy on bioeconomy. In March 2016 was the Spanish government to launch its strategy. And in January 2017 it was the turn of France. Now among the 5 major European Union countries, only the United Kingdom has no specific strategy on bioeconomy. British sources said however the government of Theresa May, struggling with the negotiations of Brexit, is expected to present shortly a first draft for consultation.

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