Jukka Kantola is the founder and CEO of World Bioeconomy Forum and also the Chair of the World Bioeconomy Association. He talks with Il Bioeconomista before the next G20 which will be held in Brazil, where the circular bioeconomy will be one of the main topics. “This G20 Summit – he says – marks a pivotal moment”
Interview by Mario Bonaccorso
Mr Kantola, the next G20 will be held in Brazil in September and the bioeconomy will be one of the main topics. What are your expectations as one of the scheduled speakers?
This G20 summit in Brazil marks a pivotal moment, as Brazil has taken a proactive role by introducing the Global Bioeconomy Initiative (GIB), which has been under development since the beginning of this year. It’s worth recalling that climate conventions began at the Earth Summit in Rio de Janeiro in 1992, and today, the need for climate action is universally acknowledged. Most nations and companies have set goals for carbon neutrality.
I believe that Rio can once again play a crucial role by bringing global attention to the bioeconomy and kickstarting financing initiatives. We already know that the Biodiversity Convention COP16 in Colombia will have bioeconomy on its agenda, and both South Africa and Malaysia, as upcoming G20 and ASEAN presidents, are considering the bioeconomy as a key focus.
Why is this G20 really so important?
Brazil’s role as the G20 host is significant, particularly with the introduction of the Global Bioeconomy Initiative (GIB), which aims to establish High-Level Principles on Bioeconomy.
At the World Bioeconomy Forum and Association, we fully support this initiative as it aligns with the global understanding of the bioeconomy. We approach the bioeconomy through three lenses: bioresource vision, biotechnology vision and bioecology vision. This framework balances the various aspects of the bioeconomy and we are pleased to see these elements incorporated into the G20 discussions. The High-Level Principles are expected to be finalised during the G20 meeting commencing on September 9th and adopted by the end of Brazil’s G20 presidency. I encourage everyone to closely review these principles and consider integrating them into any bioeconomy-related actions.
It’s not just about principles. We have been collaborating with Nature Finance to develop the “Financing a Sustainable Global Bioeconomy” report, which is set to be published on September 12th again in Rio. The report provides the results of a pioneering landscape analysis of the current and prospective interplay between finance and the bioeconomy as well as outlining proposals for structuring and expanding bioeconomy financing Currently, sustainable financing amounts to approximately $6 trillion, primarily focused on climate change mitigation and increasingly on biodiversity. However, bioeconomy financing still relies mainly on traditional, commercial-based funding methods.
To accelerate the bioeconomy and further mitigate climate change, we need to harness innovative financing tools. The bioeconomy offers viable solutions to reduce dependency on fossil fuels and it deserves recognition and support for its contributions. The “Financing a Sustainable Global Bioeconomy” report will be discussed not only at the G20 in Brazil but also at other international forums, including the Global Bioeconomy Summit in Nairobi, Kenya and the Biodiversity Convention COP16 in Cali, Colombia.
There is a lot of talk about the bioeconomy and the fight against climate change. But what are the concrete initiatives implemented in the last year?
It is clear that more action is required. The polarisation and energy crises have unfortunately diverted attention from active climate change mitigation efforts. For instance, the value of voluntary carbon markets has plummeted by 61%, which is concerning. However, despite these challenges, the bioeconomy continues to offer promising solutions such as superseding fossil-based alternatives.
Brazil is one of the countries that most supports the development of biofuels. In Europe, however, only Italy has a supportive position. What is your position on this?
Brazil has a longstanding history with biofuels, having initiated its efforts in the 1970s in response to global energy crises. With its abundant biomass resources, Brazil is well-positioned in this area. I would say that in Europe it is not only Italy to have supportive position in biofuels, just have a look on like biodiesel in Finland, Sweden or Norway.
At the Forum/Association, we view biofuels as a vital part of the bioeconomy, provided that the biomass sources are sustainable and utilised to their full potential. We also support biotechnology innovations, such as carbon capture and storage (CCS), which enable the recycling and reuse of carbon.
In 2025 the European Union will update its bioeconomy strategy. Which points in your opinion should not be missing from this update?
Updating the EU’s bioeconomy strategy in 2025 is crucial to maintaining its position in the global race. Other major economies like the USA, China, and India have already reinforced the bioeconomy on their agendas and forums like the G20 and COP16 recognise its potential to address global challenges.
As we enter the Fourth Industrial Revolution, or the “biorevolution,” the EU cannot afford to lag behind. The EU missed opportunities in the digital revolution, leading to non-EU dominance in the digital space. The EU must learn from this and play an active role in the bioeconomy. This means accelerating the update of its bioeconomy strategy and incorporating biotechnology into its action plans. The EU should foster this emerging field through incentives and creativity, avoiding any obstacles that could hinder development. This includes ensuring that the potential Biotech Act does not become any barrier.
What should the EU copy from the United States? And what from countries like China, Brazil or the UK?
As an onset, we at the Forum and the Association truly believe that each region has its own strengths, acknowledging the differences of each area. However, there is certainly room for learning from other regions.
The USA is good example how to push forward on biotechnology and how to incorporate in it digital tools. China effectively integrates its bioeconomy goals with industrial policies fostering strong collaboration between government research institutions and industry. Both USA and China have notion on biosafety and biosecurity. I did not see that yet in the EU biotechnology initiative. I think this is a must to have to incorporate macro and microlevel safety aspects on biotechnology to the upcoming EU bioeconomy strategy or on the potential Biotech Act or any other relevant actions.
Also, the EU need to speed up implementation. Biotech initiative came out with 8 actions some half a year ago – what has happened ever since?
From Brazil we could learn on their desire to learn from indigenous people and how to apply them into the bioeconomy. From UK we can learn from their emphasis on translating research into commercial applications and fostering innovation ecosystems.
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