Creating collective private sector action to scale up circular bioeconomy solutions
His Majesty The King updated on new collaborations and actions
The Circular Bioeconomy Alliance brought together bio-innovators, investment organisations and businesses at Windsor Castle on 30 March to discuss what it will take to scale the circular bioeconomy.
Discussions focused on new bio-solutions, innovative financing mechanisms and cross-stakeholder collaboration.
During the discussion, participants emphasized the need for strong cross-sector alignment and the role of convenings like this one to support collaboration.
Outcomes and suggested next steps will be published in the coming weeks to build momentum on this critical issue.
Marc Palahí, CBA CEO said “The CBA is determined to bring together people across sectors to connect the dots and build an integrated ecosystem that can help to scale the circular bioeconomy. Collaboration is non-negotiable, as no single entity can influence the full value chain. We need to take collective action that can help to overcome critical barriers, and which brings together all stakeholders, including innovators, manufacturers, brands, and investors.”
The roundtable discussions were followed later in the day by a reception, which was joined by The King.
Scaling the circular bioeconomy: from niche to norm
The circular bioeconomy is an economy centred around the restoration, protection and sustainable use of natural capital. It is one of the greatest business opportunities of the 21st century – new bioeconomy innovations use bioresources to develop and deliver solutions across multiple industries, replacing fossil-based materials with sustainable materials. This includes materials like bioplastics, textiles and nanocellulose; biobased construction materials like mass timber and mycelium; and innovation in the food sector including new agri-tech and biobased food supplements and feed.
These bioeconomy solutions will not only help us to achieve critical pollution, climate and nature targets. They also support resource security, especially in regions with low availability of fossil resources, as well as job creation and economic growth, including in rural areas.
However, scaling the circular bioeconomy faces structural barriers. Bio-based ventures often struggle to secure financing – the investment gap is enormous, and finance mechanisms are not designed for biobased businesses. Progress is further slowed by weak demand, with no consistent pull from consumers or brands willing to pay a premium.
More information
The Circular Bioeconomy Alliance was established by His Majesty King Charles III, as The Prince of Wales, and is a registered charity. The CBA aims to accelerate the change to a nature-first economy that is climate neutral, inclusive and powers prosperity. We create impact at scale, using natural capital to build sustainable value chains which transform our land, food, health and industrial systems. Our approach combines a science-based framework, coalitions of expert partners, indigenous and local leaders, and a global network of ‘Living Labs’.
Photos: Fergus Burnett
