Metsä Group’s Äänekoski Bioproduct Mill: At the Heart of the Bioeconomy, Paper360º November/December 2018

One thing that cannot be ignored when driving around Finland is the sheer number of trees—they are everywhere. In fact, 75 percent of the country is covered in forests, with only 7 percent of the land being used for other agriculture. So, if you are in the forest products industry, that means a lot of raw material—or to put it another way, a lot of renewable, sustainable, biomaterial.

The bioeconomy is a relatively new model for industry and the economy and it is really catching on as a concept in this part of the world. The European Commission defines bioeconomy as “the production of renewable biological resources and the conversion of these resources and waste streams into value added products, such as food, feed, bio-based products, and bioenergy.” Overall, the bioeconomy is worth EUR 2,300 billion (US$2,707 billion) in the EU alone, employ-ing some 22 million people. Recently, the bioeconomy sector was given a boost with the budget for research into food and natu-ral resources—the European bioeconomy cluster—doubling for the period 2021-27, to EUR 10 billion (US$11.65 billion).

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