White biotechnology – Gateway to a more sustainable future
White biotechnology is the application of nature’s toolset to industrial production. Detailed case studies were combined with a market analysis by McKinsey to estimate the impact on the three elements of sustainable development: People, Planet, and Profit (“Triple P”). The results demonstrate that the social, environmental, and economic benefits of white biotechnology go hand-in-hand. In this sense, energy efficiency is boosted, raw materials consumption is decreased, CO2 emissions are substantially reduced, and production costs are usually lowered.
However, white biotech cannot achieve its full potential without a coordinated effort on the part of all stakeholders. Therefore, the creation of a stakeholder Technology Platform to build a strategic alliance for white biotech is seen as necessary in order to benchmark Europe with other OECD countries, create European white biotech vision and road map, create financial incentives and build public awareness and support.