UPM welcomes new EU bio-economy strategy

Helsinki – Finnish forestry and biochemicals group UPM has described the EU’s new 'Bioeconomy Strategy' as a decisive move to position the bio-economy as a driver of industrial growth, innovation and climate neutrality.

In a 27 Nov statement, UPM said the strategy “reinforces the bioeconomy’s central role in revitalising European industries and boosting competitiveness through renewable and circular solutions.”

According to the Finnish group, the Brussels-issued strategy is highly relevant for scaling up bio-based innovations across the continent. 

In particular, it noted that the EU’s decision to broaden the circular-economy concept to include virgin materials from bio-based feedstock “opens new pathways to replace fossil-based inputs with renewable ones.”

Furthermore, the "ambition to set concrete targets for bio-based content would give confidence to stimulate technology investments and accelerate market uptake.”

UPM also lauded the strategy’s focus on industrialising bio-based technologies by supporting innovation and scale-up.

“These are important signals for companies driving sustainable growth and innovation,” according to Harald Dialer, EVP for technology and UPM Biorefining.

UPM is “putting this vision into action,” Dialer citing the start-up of its €1.3-billion wood-to-chemicals biorefinery in Leuna, Germany.

“Europe’s largest investment in industrial-scale biochemicals will convert sustainably sourced wood into next-generation bio-chemicals," he stated.

UPM's new portfolio of innovative and sustainable products "will help brands reduce to emissions and support their commercial performance through differentiation and additional performance.”

In conclusion, the company urged EU and member-state leaders to “maintain momentum” and back the new strategy with concrete regulatory measures.