European Bioeconomy Alliance position on the Industrial Accelerator Act
EUBA strongly welcomes the recognition of the bioeconomy as a catalyst for sustainable bio-based solutions for industrial production in the Proposal for an Industrial Accelerator Act. Especially positive is the identification of lead markets, such as bio-based plastics and polymers, bio-based chemicals and biobased construction products, as well as lead technologies that can support the EU’s strategic autonomy and the decarbonisation of certain industrial sectors. Bio-based products can be instrumental in strengthening the EU's strategic value chains. However, EUBA members believe the IAA should go further.
To remain competitive, the EU must support targeted investments, new value chains, employment and industrial capacities whilst also supporting research and development. This includes creating market demand for bio-based materials, bio-based chemicals, and biofuels, among others. These products, outlets, co-products, and by-products have a huge potential to create new scalable markets for farmers, forest managers and owners, processors and new markets for industries.