UPM welcomes new EU bioeconomy strategy

UPM welcomed in late November the EU’s new bioeconomy strategy as a decisive move to elevate the bioeconomy as a driver of growth, innovation and climate neutrality.

The strategy reinforces the bioeconomy’s central role in revitalizing European industries and boosting competitiveness through renewable and circular solutions.

The strategy is highly relevant for scaling up biobased innovations across Europe, UPM stated.

By broadening the circular-economy concept to include virgin materials made from biobased feedstocks, the strategy opens new pathways to replace fossil-based inputs with renewable ones.

UPM said it welcomes the ambition to set concrete targets for biobased content, which will give confidence to stimulate technology investments and accelerate market uptake.

Further, the strategy promotes the industrialization of biobased technologies by supporting innovation and scale-up.

Finally, the strategy rightly recognizes the need to enable access to sustainable feedstocks.

“These are important signals for companies driving sustainable growth and innovation,” said Harald Dialer, the executive vice president of technology and UPM biorefining. “At UPM, we are putting this vision into action. Our 1.3-billion-euro (USD$1.52 billion) wood-to-chemicals biorefinery in Leuna is starting up. Europe’s largest investment in industrial-scale biochemicals will convert sustainably sourced wood into next-generation biochemicals. We will market a completely new portfolio of innovative and sustainable products that replace fossil raw materials, help brands reduce emissions and support their commercial performance through differentiation and additional performance.”

The bioeconomy is key to securing Europe’s strategic autonomy, UPM noted.

By building new value chains based on renewable feedstocks, Europe can reduce dependence on fossil imports while fostering green growth, innovation and high-quality jobs.

UPM called on EU and member-state leaders to maintain momentum and back this strategy with concrete regulatory action.

“Clear targets for biobased content, streamlined sustainability criteria and incentives for green investments will unlock the full potential of the bioeconomy to power Europe’s industrial future,” the company stated.