The global bioeconomy, is currently at US$4 trillion and is expected to grow US$30 trillion by 2050.
Such an economy uses renewable resources such as plants, animals, biomass and waste to produce goods and serves, including energy.
The report, which maps practical ways for the G20 to harness trade and finance to scale the bioeconomy, was prepared by the Boston Consulting Group.
Biodiversity-based trade already represents 17% of total global trade and 7% of global GDP.
Key opportunities are delivering up to one-third of global emissions reductions needed to limit global warming to 1.5°C, as well as supporting 4.3 billion livelihoods that depend on biodiversity and healthy ecosystems.
The report further identified six strategic priorities for G20 members to build an equitable, sustainable global bioeconomy, in the areas of policy integration, trade infrastructure, regional cooperation, data and standards harmonization and interoperability, financial realignment and market incentives.
Picture: EFI Blog