Preliminary Stocktake of G20 Strategies and Practices: a contribution to the Brazilian G20 Presidency's Global Initiative on Bioeconomy

The document assesses the current state of bioeconomy strategies across G20 nations, identifying three primary thematic axes: biotechnology (R&D&I), bioresources (sustainable use of biodiversity), and bio-ecology (sustainable development). It highlights the significant economic potential of the sector, citing estimates that its value could reach US$30 trillion by 2050. The report emphasizes the necessity of integrating indigenous and local knowledge, ensuring social equity, and aligning bioeconomy growth with biodiversity conservation and climate action. It further examines policy enablers such as Green Public Procurement and carbon pricing, and discusses financing mechanisms including nature markets and sustainability-linked bonds. The report concludes by proposing five key themes for the G20 Initiative on Bioeconomy's program of work: integration into growth plans, livelihoods and equity, enabling finance, facilitating biotrade, and measurement methodologies.

• The global bioeconomy has immense growth potential, with the World Bioeconomy Forum estimating its current value at US$4 trillion and predicting it will rise to US$30 trillion by 2050, representing one-third of global economic value.
• G20 members' bioeconomy approaches generally align across three thematic axes: biotechnology focusing on research, development and innovation; bioresources focusing on the sustainable use of biodiversity; and bio-ecology focusing on broader sustainable development.
• The bioeconomy is heavily dependent on biodiversity, and its sustainable growth requires a 'two-way interaction' that accounts for both human dependence on nature and the impacts of human activities on biodiversity.
• Indigenous and local knowledge (ILK) is critical for the bioeconomy, as indigenous peoples and local communities manage much of the world's biodiversity and possess intricate knowledge for its sustainable use.
• Technological advancements in biorefining are enabling the conversion of biomass into high-value products; for example, Brazil's Raizen became the first ethanol producer certified to produce sustainable aviation fuel (SAF) in August 2023.
• G20 members employ various policy enablers to support the bioeconomy, including Green Public Procurement (GPP), carbon pricing mechanisms, and bioenergy strategies involving feed-in tariffs and tax incentives.
• Financing the bioeconomy requires a shift toward valuing nature in economic activities, utilizing instruments such as sustainability-linked bonds, loan guarantees, and nature markets (including asset, intrinsic, credit, and derivative markets).
• There is a lack of standardized metrics for the bioeconomy, as official economic statistics rarely distinguish between bio-based and non-bio-based products, though efforts like UNCTAD's TraBio database are attempting to address this.
• The report identifies five priority themes for the G20 Initiative on Bioeconomy: integration into industrial/green growth plans, livelihoods and equity outcomes, bioeconomy-enabling finance, facilitating biotrade, and bioeconomy measurement.

APA

Climate Policy Initiative (2024). Preliminary Stocktake of G20 Strategies and Practices: a contribution to the Brazilian G20 Presidency's Global Initiative on Bioeconomy. https://www.climatepolicyinitiative.org/wp-content/uploads/2024/05/Preliminary-Stocktake-of-G20-Strategies-and-Practices.pdf

Chicago

Climate Policy Initiative. Preliminary Stocktake of G20 Strategies and Practices: a contribution to the Brazilian G20 Presidency's Global Initiative on Bioeconomy. 2024. https://www.climatepolicyinitiative.org/wp-content/uploads/2024/05/Preliminary-Stocktake-of-G20-Strategies-and-Practices.pdf.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=Preliminary Stocktake of G20 Strategies and Practices: a contribution to the Brazilian G20 Presidency's Global Initiative on Bioeconomy |date=May 2024 |url=https://www.climatepolicyinitiative.org/wp-content/uploads/2024/05/Preliminary-Stocktake-of-G20-Strategies-and-Practices.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2024preliminary, author = {{Climate Policy Initiative}}, title = {{Preliminary Stocktake of G20 Strategies and Practices: a contribution to the Brazilian G20 Presidency's Global Initiative on Bioeconomy}}, institution = {Climate Policy Initiative}, year = {2024}, month = may, url = {https://www.climatepolicyinitiative.org/wp-content/uploads/2024/05/Preliminary-Stocktake-of-G20-Strategies-and-Practices.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }