By Alani Janeke
South Africa will prioritise bio-economic policies and developments in its G20 presidency this year to encourage economic growth, environmental protection, and social equality.
Developing the international bio-economy was highlighted at the 17th Global Forum for Food and Agriculture (GFFA) in Berlin, Germany.
John Steenhuisen, minister of agriculture, participated in a panel discussion at the GFFA hosted by the Inter-American Institute for Cooperation on Agriculture (IICA). The discussion’s theme was: “From Diversity to Action: Global Collaboration to Achieve a Sustainable Bio-economy in Agriculture”.
According to a statement, Steenhuisen said that agriculture has the biggest economic potential of the three sectors identified as critical in the South African bio-economy. The agricultural industries where bio-innovation can have a significant impact, include crop and livestock improvement for biotic and physical stress related to climate change (including indigenous crops), agrarian processing initiatives, an integrated food and nutrition research program, animal vaccine capabilities, crop energy initiatives, biocontrol and bio-fertiliser, aquaculture, soil conservation, water resource management and the promotion of valuable skills and abilities to enable agricultural innovation.
Ten high-level principles
During its leadership in 2014, Brazil developed the G20’s Initiative on Bio-economy (GIB), which led to adopting ten high-level principles relating to policy formation and market development.
The GBI principles focus on normalising the scope of social equality, livelihoods, sustainable prosperity, and the bio-economy’s ability to address nature and climate objectives. It also emphasises the necessity of grounding the bio-economy in science and establishing standard definitions and metrics. Furthermore, it focuses on establishing trade rules and enabling financing rules and flow.
In the panel discussion, Steenhuisen emphasised that South Africa, as the 2025 G20 leader, can drive bio-economy development in line with these principles. The 2025 GIB will combat poverty and promote equality objectives through national initiatives while focusing on regional and international cooperation.
South Africa does not stand alone in its commitment. Colombia has also committed to prioritising the bio-economy in its COP16 presidency. Brazil, too, has committed to promoting the bio-economy theme at the United Nations Framework Convention on Climate Change (COP30), which will be hosted in their country this year.
🎥 WATCH: Under South Africa’s leadership, the 2025 G20 Initiative on Bio-economy (GIB) will focus on policies and developments that drive economic growth, environmental protection, and social equity, said Minister John Steenhuisen at a panel discussion at the #GFFA in Berlin.
https://www.facebook.com/watch/?v=588787000710506
Global value of $4 trillion
The value of the global bio-economy is estimated at $4 trillion (R74.58 trillion) with growth potential of up to $30 trillion (R559.37 trillion) by 2050.
According to South Africa’s bio-economy strategy, under the leadership of the Department of Science, Technology and Innovation, the country aims to establish the bio-economy as a significant contributor to the country’s gross domestic product (GDP) by 2030. The strategy aims to achieve this through job creation, the establishment of new industries that generate and develop bio-based services, products and innovation, and an increase in new and existing companies that provide and use these solutions.
The strategy has identified the crucial agricultural, health and industrial sectors. A thriving bio-economy has the potential to address South Africa’s socio-economic development goals. These include reducing poverty, strengthening food security, improving the country’s industrial and agricultural sectors, creating more job opportunities, and improving quality of life.
