Forest Bioeconomy and Climate Change

The COVID-19 pandemic has been yet another wake-up call for us to stop exceeding the planetary boundaries. After all, deforestation and biodiversity loss have been identifed as key processes in enabling the direct transmission of zoonotic infectious diseases. However, it is important to highlight that such a pandemic is not yet another global crisis, but rather one more consequence––like biodiversity loss or climate change––of the same fundamental problem––our economic system. This system is addicted to fossil resources and growth at all costs, and has failed to value our most important capital––nature.

Having arrived at the present tipping point, we clearly need a new economic paradigm that puts the basis for human prosperity within the planetary boundaries. How to transition towards this is the tricky part. Due to the speed and scale of change needed, the greatest economic transformation in human history is required in order to achieve a climate neutral, circular and inclusive economy that prospers in harmony with nature. This paradigm shift requires transformative policies, mission-oriented innovation and investments in bio-based solutions and natural capital, while business models and markets need to be rethought, as well as production and consumption cycles. Above all, we need to address the past failure of our economy to value nature because our health and well-being fundamentally depend on it.