Leveraging the bio-economy to drive sustainable development: a comprehensive review
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Abstract
Bio-economy is emerging as a new beacon of hope in a world moving towards sustainability. Renewable biological resources drive it. Moreover, it holds a great promising for a sustainable future to offer a significant economic benefits, such as job creation and reducing fossil fuel dependence. However, its potential can only be realized fully by addressing key challenges, including the need for technological innovation and robust policy frameworks. This study is explored the economic and governance dimensions of the bio-economy, with a focus on strategies for large-scale implementation and its role in achieving sustainable development goals. The findings are highlighted the bio-economy's ability to enhance economic resilience, create jobs, and mitigate climate change and regulatory hurdles. It is underscored the importance of innovation, global collaboration, and varying levels of progress across different regions. Strong governance and policy support are crucial, alongside adopting circular economy practices and advanced technologies like blockchain. These approaches can help to maximize the bio-economy's contribution to sustainable development which is addressed the issues like poverty, food security, and climate change while driving economic growth.
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