G20 Bioeconomy Initiative
The G20 Bioeconomy Initiative releases ten high-level principles aimed at providing voluntary guidance for protecting global biodiversity and promoting sustainable economic development.
The G20 Bioeconomy Initiative believes that bioeconomy has enormous potential in building a sustainable future and promoting economic growth. How to efficiently utilize biological resources and develop bioeconomy products and services is a key concern for stakeholders.
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Ten High-level Principles of Bioeconomy
The G20 Bioeconomy Initiative proposes ten high-level principles related to bioeconomy, including:
1. Integrate and promote the economic, social, and environmental aspects of sustainable development to help eliminate hunger and poverty and improve health and well-being, while ensuring global food security and nutrition.
2. Uphold human rights in an inclusive and fair manner, including indigenous peoples and local community members, promote gender equality and the participation of all stakeholders.
3. Strengthen efforts to mitigate and adapt to global climate change, while maintaining consistency with multilateral climate agreements.
4. Contribute to the protection of biodiversity and use genetic resources fairly and justly based on national laws and international agreements.
5. Strengthen sustainable production and consumption patterns, improve the efficiency and recycling of biological resources, while promoting the protection and regeneration of degraded areas and ecosystems.
6. Evaluate potential benefits, risks, and impacts through safe and responsible science, technology, innovation, and traditional knowledge.
7. Benefit from documents and coherent policy frameworks to promote trade in bioeconomy products and services, market environment, sustainable business models, decent work, local value creation, and private sector participation.
8. Evaluate the sustainability of the value chain using transparent, comparable, measurable, inclusive, and science based standards and methods.
9. Based on international cooperation to address global challenges, utilize complementary advantages and innovation to promote financing, capacity building, and sharing of best practices.
10. Based on country specific methods and implement according to national priorities and local conditions.
Reference:
G20 Reaches Consensus and Establishes High-Level Principles on Bioeconomy
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