Principles of the G20 bioeconomy

The document "G20 High-Level Principles on Bioeconomy" presents ten voluntary and non-binding bioeconomy principles developed by the G20 Bioeconomy Initiative (GIB). These principles aim to support a sustainable future and economic growth for all.

Here is a summary of the key points:

• Principle 1: Bioeconomic activities should integrate and promote sustainable development in all its economic, social and environmental dimensions. They should contribute to eradicating hunger and poverty, improving health and well-being, while ensuring global food security and nutrition.
• Principle 2: The bioeconomy should be inclusive and fair, respect the rights of all persons, including indigenous peoples and members of local communities, promote gender equality and the participation of all stakeholders.
• Principle 3: Bioeconomy activities should support climate change mitigation and adaptation efforts in line with relevant multilateral climate agreements such as the Paris Agreement.
• Principle 4: The bioeconomy should contribute to the conservation of biodiversity, the sustainable use of its components and the fair and equitable distribution of benefits arising from the use of genetic resources and related traditional knowledge, in accordance with national legislation and relevant international agreements and instruments, such as the Kunming-Montreal Global Biodiversity Framework (KMGBF).
• Principle 5: The bioeconomy should support sustainable models of consumption and production and the efficient and circular use of biological resources, while supporting the restoration and regeneration of degraded areas and ecosystems.
• Principle 6: The development of the bioeconomy should take place through the safe, secure and responsible use of science, technology, innovation and traditional knowledge, with a scientific assessment of potential benefits, risks and impacts.
• Principle 7: The bioeconomy should benefit from strong and coherent policy frameworks that support trade in bioeconomy products and services, market conditions, sustainable business models, decent work, local value creation and the participation of the private sector and civil society.
• Principle 8: Transparent, comparable, measurable, inclusive, science-based and context-specific criteria and methodologies should be used to assess the sustainability of the bioeconomy throughout the value chain.
• Principle 9: The bioeconomy should be supported by international cooperation that addresses global challenges, exploits complementary strengths, innovation and entrepreneurship, and supports financing, capacity building and the exchange of best practices.
• Principle 10: The bioeconomy should be based on country-specific approaches and implemented in accordance with national priorities and regional and local conditions.

The document emphasizes the importance of a holistic and inclusive approach to the bioeconomy that takes into account economic, social and environmental aspects. Co2AI