Global environmental damage, climate change and the growing scarcity of natural resources are closely linked to the use of fossil raw materials. Thus, the development of a bioeconomy strategy for Austria is a crucial step towards achieving the objectives of the Paris Agreement. "Bioeconomy" stands for an economic approach that aims to replace fossil resources with renewable resources in as many areas and applications as possible. It encompasses all industrial and economic sectors that produce, process, handle or use biological resources. Through the use of regional, renewable raw materials, the bioeconomy offers a multitude of new opportunities to Austria as a business location. In this context, we are already well-positioned to build on strong (bioeconomic) value chains. In the present Bioeconomy Strategy we have identified the most important fields of action for converting the fossil economic system to a bioeconomy.
