G20 reaches consensus and establishes High-Level principles on Bioeconomy

After nine months of intense debates, the G20 Initiative on Bioeconomy (GIB) established the 10 High-Level Principles on Bioeconomy as a result of a meeting of technicians from the forum’s member countries, held this week in Rio de Janeiro. This is the first time that the bioeconomy has been the subject of a multilaterally agreed document devoted to this topic.

The Bioeconomy Initiative was proposed by Brasil’s G20 Presidency, seeking to boost the development of this innovative and productive paradigm based on the combination of knowledge and nature.

The bioeconomy is based on the most advanced science and traditional knowledge built over centuries by Indigenous peoples and traditional communities, and represents a promising path for the ecological transition toward a more sustainable and inclusive global economy. The Principles are expected to serve as a basis for future discussions on bioeconomy in the world.

“Recognizing the remarkable potential of the bioeconomy for building a sustainable future and fostering economic growth for all, the G20 Bioeconomy Initiative (GIB) has initiated the international debate on this innovative and complementary production paradigm. Its members decided on ten High-Level Principles on the Bioeconomy, which are voluntary and non-binding,” according to a note released after the meeting.

Among the principles are a commitment to inclusion and equity, defending the rights of all persons, including Indigenous peoples and members of local communities, promoting gender equality and advancing efforts to mitigate and adapt to global climate change, in accordance with applicable multilateral climate agreements.

The principles also include contributing to the conservation of biodiversity, the sustainable use of its resources and the just and equitable sharing of the benefits arising from the use of genetic resources and associated traditional knowledge, subject to national laws and in accordance with applicable international agreements and instruments.

The agreed principles include promoting sustainable consumption and production patterns, the efficient and circular use of biological resources, and trade for bioeconomy products and services. They also include market conditions, sustainable business models, and decent jobs.

The Ministry of Foreign Affairs conducts the work of the G20 Bioeconomy Initiative in close coordination with the Ministry of the Environment and Climate Change (MMA), the Ministry of Development, Industry, Trade and Services (MDIC), the Ministry of Science, Technology and Innovation (MCTI), and the Ministry of Finance (MF).

The initiative also has the participation of the Ministry of Agriculture and Livestock (MAPA), the Ministry of Fisheries and Aquaculture (MPA), the Ministry of Agrarian Development and Family Agriculture (MDA), the Ministry of Mines and Energy (Mme), the Civil House of the Presidency of the Republic, the Brazilian Development Bank (BNDES), the Ministry of Integration and Regional Development (MIDR) and the Ministry of Planning and Budget (MPO).