AcceleratingtheGlobalTransitiontoaBio-basedEconomy:TheStrategicRoleofPolicyWHITEPAPERSEPTEMBER2024Images:GettyImages©2024WorldEconomicForum.Allrightsreserved.Nopartofthispublicationmaybereproducedortransmittedinanyformorbyanymeans,includingphotocopyingandrecording,orbyanyinformationstorageandretrievalsystem.DisclaimerThisdocumentispublishedbytheWorldEconomicForumasacontributiontoaproject,insightareaorinteraction.Thefindings,interpretationsandconclusionsexpressedhereinarearesultofacollaborativeprocessfacilitatedandendorsedbytheWorldEconomicForumbutwhoseresultsdonotnecessarilyrepresenttheviewsoftheWorldEconomicForum,northeentiretyofitsMembers,Partnersorotherstakeholders.ContentsForewordExecutivesummaryIntroduction1Streamliningregulation:Theroleofpolicyinunlockingthepromiseofgenomicsandhumanhealth2Scalingsustainablealternatives:Theroleofpolicyindeliveringsustainablealternativesforhard-to-abateindustries3Commercializationandadoption:TheroleofpolicyinshapingsustainablefoodandagriculturalsystemsConclusionContributorsEndnotes34561015202122AcceleratingtheGlobalTransitiontoaBio-basedEconomy:TheStrategicRoleofPolicy2ForewordTheblendingofthedigital,physicalandbiologicalworldsisreshapingsociety.Policyisattheforefront:fordecades,policyhasbeenstructuringtheresponsibletransitionofbiologyintoacommercialtechnology.Astoolsevolvetomorereliablyharnessbiology,theinterplaybetweenpolicyandinnovationhasneverbeenmoreimportant–tosafeguardthehuman-centredtransitiontoaresilient,bio-basedeconomy.Althoughnotalwaysrecognized,thisinterplayisnotnew:effectivepolicieshavepropelledgroundbreakingtechnologiesfromthelaboratorytowidespreadsocietaluseforcenturies.Withoutthefoundationalsupportofwell-craftedpolicies,eventhemostpromisinginnovationsriskstagnationorfailingtoreachthosewhowouldbenefitthemost.Asthejourneytoabio-basedeconomyadvances,policywillbekeyinfosteringresilientandequitableeconomiesthroughthecommercialapplicationofbio-innovation.Atthecoreofthistransition,therecipeforsuccess,isbiology.Bio-innovationhasprovideduswithrapidresponsestohumanhealthcrisesandsolutionstoreversediminishingagriculturalproductivityduetoclimatechange.EvenOzempic,thediabetesandweight-lossdrug,isaproductofbiomanufacturing.Beyondhumanhealthandagriculturalapplications,bio-basedapproacheshavealsoprovidedearly-stagealternativesformanydailynecessitieshistoricallyassociatedwithpollutingorhigh-emissionsproduction.Inadditiontotechnologicalprogress,policyisthekeydriverthatwilldefinethemagnitudeoftheimpactthatbio-innovationiscapableofachieving.Aswebuildafuturewherebio-innovationincreasinglydeliversbettercommercialalternatives,withoutincreasedpolicyintervention,bio-solutionswillbeincapableofdeliveringupontheirultimatepotential.Thegoalisclear:toensurethattheinnovations–notonlyoftodaybutoftomorrowaswell–caneffectivelyaddressthepressingchallengesfacinghumanityandtheplanet.Byexaminingpastsuccesseswheretimelyandsupportivepolicieshavesavedlivesandimprovedenvironmentaloutcomes,itbecomesclearthatevolvingtheseframeworksanddeliveringthemefficientlyiscrucial.Bio-basedapproacheswillcontinuetoprovidethetoolsandmeansnecessarytodeliverinnovativesolutionstohumanhealth,industrialpracticesthatshrinkourrelianceonextractiveprocesses,andtheabilitytoreimaginesustainablefoodsystems.Inaworldfastapproachingclimatetippingpointswheresocietyrequirespracticalhuman...