Microalgal Bioeconomy: A Green Economy Approach Towards Achieving Sustainable Development Goals

Nilay Kumar Sarker and Prasad Kaparaju ()
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Nilay Kumar Sarker: School of Engineering and Built Environment, Griffith University, Nathan, QLD 4111, Australia
Prasad Kaparaju: School of Engineering and Built Environment, Griffith University, Nathan, QLD 4111, Australia

Sustainability, 2024, vol. 16, issue 24, 1-45

Abstract: This article delves into the role of microalgae in advancing a green economy, thereby contributing to the attainment of Sustainable Development Goals (SDGs). Microalgae, as sustainable resources, offer multifaceted benefits across various sectors, including aquaculture, agriculture, food and feed, pharmaceuticals, cosmetics, wastewater treatment, and carbon sequestration. This review highlights the versatility of microalgae in producing biofuels, high-value bioactive compounds, and bioremediation processes. It examines the technical viability and environmental sustainability of microalgae cultivation, emphasizing its low carbon footprint and resource efficiency. This article also explores the integration of microalgae into existing industrial processes, illustrating their potential to mitigate climate change, promote biodiversity, and enhance resource circularity. Challenges such as scalability, cost-effectiveness, and regulatory frameworks are discussed alongside the prospects for technological innovations and policy support to bolster the microalgae industry. By harnessing the potential of microalgae, this article underscores a pathway towards a more sustainable and greener future, aligning with the global agenda for sustainable development.

Keywords: Microalgae; SDGs; green economy; aquaculture; agriculture; pharmaceutical; cosmetics; carbon capture; food and feed; wastewater treatment (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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