PATHWAYS TO A CIRCULAR ECONOMY - Port of Rotterdam

– Clean technology inthe energy sector hasgiven rise to a new ageof innovation.efficiency and renewable energy, with ongoing investmentsand management attention expected to deliver additionalbenefits in terms of reduced emissions, improved energysecurity and in some cases, improved safety. For example,the costs of solar panels and wind turbines continue on adownwards trend, leading to an increase in renewableenergy installations that compete with conventional energygeneration with little if any need for public subsidies.Clean technology developments, such as those in theenergy sector, should serve as an example that businessinnovation can rise to the challenges of creating a circulareconomy. However, it will take belief in the new directionand strong focus as well as time, investment, managementattention and support from governments. The need tobring the scope of human activities back inside planetaryboundaries – the underlying driver for the move to acircular economy – should provide this belief and focus.3 Emergence of a bio-age to replace the oil ageThe emergence of a bio-age is the outcome of whenresource scarcity meets innovation. Innovations in bioresources,such as agricultural crops and their residuesas well as other non-edible bio-based resources, makeattractive substitutes for oil, with its looming scarcitychallenges. Bio-based innovations can produce finechemicals, food supplements, materials and energy aswell as certain medicines and cosmetics. Many refer tothe emergence of these commercial possibilities as thebio-based economy.The bio-based economy is already taking shape around theworld. The European Commission estimates the Europeanbio-based economy already has a market size of some EUR1.5 trillion and employs more than 22 million people. Withdemand for bio-based solutions rising, these are excitingtimes for companies active in this field.17/73PORT OF ROTTERDAM / RABOBANKPATHWAYS TO A CIRCULAR ECONOMY