Accelerating the Global Transition to a Bio-based Economy: The Strategic Role of Policy

The capacity to read, write, edit and, increasingly, functionalize DNA is expanding the reach of application areas for the tech-driven bioeconomy.3 Up to 60% of physical inputs to the global economy could be produced with biology.4 Typically taking the form of a law, regulation, procedure, administrative action, incentive or voluntary practice of government and other institutions, the role of policy in amplifying innovation is often underemphasized and undervalued. This paper shines a spotlight on the importance of policy in amplifying bio-solutions, as well as areas that can benefit from enhanced policy focus, to ultimately realize the full potential of a biobased economy for society and the environment. Agility in policy-making is crucial to promote a responsible transition: it is imperative to enable the unforeseen potential of emerging technologies, and to ensure policies can better co-evolve with the technology itself while paving the way for responsible, human-centred adoption. The following sections highlight examples of the key bio-innovation areas underpinned by existing and/ or emerging policy frameworks. These policies have been instrumental in enabling bio-solutions to save millions of lives, boost agricultural productivity and deliver sustainable energy alternatives. These cases bring to the forefront the significant societal benefits that can result from the harmonization of policy and innovation, while highlighting further areas of development for transformative outcomes. At a time when the capabilities of programming biology are rapidly evolving, bringing policy to the forefront of the discussion has never been more crucial: it is through policy that a responsible, human-centred transition will take place to deliver upon all that bioinnovation has to offer.

source :

https://www.weforum.org/publications/accelerating-the-global-transition-to-a-bio-based-economy-the-strategic-role-of-policy