UK aims to grow bioeconomy to half a trillion by 2030

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In the United Kingdom, the government is working to double the size of the country’s bioeconomy by 2030, to £440 billion ($553 billion).

The government issued its Bioeconomy Strategy last week to lay out a roadmap for boosting the sector and “create the right national and international market conditions” for biobased solutions to grow.

Some are skeptical, however, that the target can be achieved and pointed to the roadmap’s lack of policy support. “The vision described in the new Bioeconomy Strategy is positive and welcome, however, it clearly lacks the definitive policies required to see it delivered,” Mark Sommerfeld, policy manager at the Renewable Energy Association, told BusinessGreen.   “It is hard to see how we can decarbonize practically, and cost effectively, without bioenergy, yet action is needed now. Firm proposals to support biomass power through reforms the CfD [Contract for Difference] scheme; support biomass heat beyond the end of the RHI [Renewable Heat Incentive] and increase the amount of renewable transport fuel in the petrol mix by introducing E10, would all help put this high-level Strategy actually into action.”