Contextualization of the Bioeconomy Concept through Its Links with Related Concepts and the Challenges Facing Humanity

Leire Barañano, Naroa Garbisu, Itziar Alkorta, Andrés Araujo and Carlos Garbisu
Additional contact information
Leire Barañano: NEIKER-Basque Institute of Agricultural Research and Development, Parque Científico y Tecnológico de Bizkaia P812, 48160 Derio, Spain
Naroa Garbisu: Faculty of Economics and Business (Sarriko), University of the Basque Country (UPV/EHU), 48015 Bilbao, Spain
Itziar Alkorta: Department of Biochemistry and Molecular Biology, University of the Basque Country (UPV/EHU), P.O. Box 644, 48080 Bilbao, Spain
Andrés Araujo: Department of Management and Business Economics, University of the Basque Country (UPV/EHU), 48015 Bilbao, Spain
Carlos Garbisu: NEIKER-Basque Institute of Agricultural Research and Development, Parque Científico y Tecnológico de Bizkaia P812, 48160 Derio, Spain

Sustainability, 2021, vol. 13, issue 14, 1-18

Abstract: The concept of bioeconomy is a topic of debate, confusion, skepticism, and criticism. Paradoxically, this is not necessarily a negative thing as it is encouraging a fruitful exchange of information, ideas, knowledge, and values, with concomitant beneficial effects on the definition and evolution of the bioeconomy paradigm. At the core of the debate, three points of view coexist: (i) those who support a broad interpretation of the term bioeconomy, through the incorporation of all economic activities based on the production and conversion of renewable biological resources (and organic wastes) into products, including agriculture, livestock, fishing, forestry and similar economic activities that have accompanied humankind for millennia; (ii) those who embrace a much narrower interpretation, reserving the use of the term bioeconomy for new, innovative, and technologically-advanced economic initiatives that result in the generation of high-added-value products and services from the conversion of biological resources; and (iii) those who stand between these two viewpoints. Here, to shed light on this debate, a contextualization of the bioeconomy concept through its links with related concepts (biotechnology, bio-based economy, circular economy, green economy, ecological economics, environmental economics, etc.) and challenges facing humanity today is presented.

Keywords: bio-based economy; biotechnology; circular economy; green economy; sustainability; sustainable development goals (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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