UPM welcomes new EU Bioeconomy Strategy
In Finland, UPM welcomed the European Union’s new Bioeconomy Strategy, as a decisive move to elevate the bioeconomy as a driver of growth, innovation, and climate neutrality. The strategy reinforces the bioeconomy’s central role in revitalizing European industries and boosting competitiveness through renewable and circular solutions, the company said.
UPM added that the strategy is highly relevant for scaling up biobased innovations across Europe. By broadening the circular economy concept to include virgin materials made from biobased feedstocks, the strategy opens new pathways to replace fossil-based inputs with renewable ones. UPM added it welcomes the ambition to set concrete targets for biobased content, which will give confidence to stimulate technology investments and accelerate market uptake. Further, the strategy promotes the industrialization of biobased technologies by supporting innovation and scale-up. Finally, the strategy rightly recognizes the need to enable access to sustainable feedstocks.
“These are important signals for companies driving sustainable growth and innovation,” said Harald Dialer, Executive Vice President Technology and UPM Biorefining. “At UPM, we are putting this vision into action. Europe’s largest investment in industrial-scale biochemicals will convert sustainably sourced wood into next-generation biochemicals. We will market a completely new portfolio of innovative and sustainable products which replace fossil raw materials, help brands reduce emissions, and support their commercial performance through differentiation and additional performance.”
Category: Fuels
