ECOFIN - Economic and Financial Affairs Council

03/17/2026 | Press release | Distributed by Public on 03/17/2026 11:06

Bioeconomy: Council backs moving bio-based innovations from lab to production 18:00 The Council has approved conclusions on the EU bioeconomy strategy, with a focus on moving[...]

Today, the Council approved conclusions on the new EU's bioeconomy strategy. The Council conclusions welcome the vision for a competitive and sustainable bioeconomy by 2040, promote the use of bio-based and circular solutions across all relevant sectors - as fossil-free alternatives - and support innovation and investments.

Bioeconomy uses renewable biological resources such as plants, animals and microorganisms to produce food, energy and industrial goods.

The transformation led by bioeconomy is already tangible across Europe, from everyday bio-based products such as beeswax lip balm and linen textiles to cutting-edge materials like car parts from olive tree waste. With today's Council conclusions, we say it loud and clear: competitiveness, sustainability and homegrown innovation must be at the core of the EU's path toward a resilient bioeconomy by 2040 and Europe's strategic autonomy.

Maria Panayiotou, Minister for Agriculture, Rural Development and Environment of the Republic of Cyprus

In its conclusions, the Council welcomes the EU bioeconomy strategy proposed by the Commission as a timely and essential step in strengthening Europe's competitiveness, resilience, prosperity and sustainability.

According to the Council conclusions, it is important to efficiently implement existing EU law that is relevant to the bioeconomy and update national actions with the strategy. The Council backs more innovation and measures to support investment in sustainable bio-based solutions, including faster approvals and simplified rules, as well as leading global action in bioeconomy.

Creating predictable demand for sustainable bio-based materials and technologies is essential to unlocking private investment. In this context, the Council stresses the need to identify and strengthen high-potential sectors (lead markets).

These lead markets should not be limited to the ones listed in the EU bioeconomy strategy (e.g. bio-based plastics, chemicals, construction products, fertilisers) but could also be extended to additional sectors, including footwear and textile, paper, or the blue bioeconomy (e.g. the use of algae and sponges).

According to recent reports, the EU is largely self-sufficient in biomass supply (at around 90%). The Council calls for ensuring sustainable biomass supply, as this is essential for the long-term viability of the bioeconomy. It calls on member states to use biomass across value chains in a resource-efficient way that safeguards the environment and to promote the use of use of by-products, bio-waste and residues (secondary biomass).

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