Canada has one of the largest biomass resources in the world and pursuing the transition to a low-carbon economy. Many experts therefore state that Canada is perfectly positioned to lead in the development of the global bioeconomy – and to claim the multi-trillion dollar prize such a pole position represents. Viewing waste products as a ressource rather than a burden makes sense. But what is holding us back from closing this loop?
This Spotlight explores the opportunities and challenges Canada, our industries and companies face in making full use of the waste they generate – as well as those companies focused on using the waste generated by other industries as their own base feedstock. We explore the role of government in enabling and supporting the bioeconomy for growth in the longterm, as well as the strategies Canadian companies must put in place to be successful within it.
Event Alignment: Scaling Up Conference
Key Takeaways & Calls to Action
- Canada needs the political will to cancel fossil fuel subsidies and put a price on carbon, which will correct the market value of fossil fuels and naturally prop up the bioeconomy.
- Although Canada has focused on R&D and regulatory incentives, it should also prioritize the commercialization of innovation and products in the bioeconomy.
- Canada needs a coordinated and sustained effort for bioeconomy development. We need to strengthen our innovation ecosystem to foster public-private partnerships, accelerate deployment and adoption of advanced technologies, support skills training, integrate innovators with the mainstream supply chain, and showcase Canadian innovation.
- The by-products of multiple Canadian industries – such as wood products from forestry, and carbohydrates from corn, wheat straw and other agricultural waste – represent potential feedstocks for the bioeconomy, should their supply chains be strengthened.