Balancing food security, bioeconomy, climate and biodiversity objectives to unlock sustainable value chains

Expected Outcome: Project results are expected to contribute to all of the following expected outcomes: decision-makers have improved understanding of the impacts of bioeconomy and nature markets on the sustainability of the agricultural sector, food security, climate and biodiversity, as well as on land-use conflicts; society benefits from economic activities that align bioeconomy, climate and biodiversity objectives while safeguarding food security; farmers gain opportunities to diversify their production, their income and improve the environmental performance of agricultural production without compromising food supply; policymakers are better equipped to develop more effective, evidence-based agricultural and environmental policies. Scope: As the bioeconomy and nature markets gain importance, enabling diversification of value streams for farmers, policymakers must ensure that the growing use of agricultural biomass and agricultural land for non-food purposes (e.g., for the development of novel bio-based chemicals, compounds, materials, products and services, energy production, environmental services provision, carbon and biodiversity credits) does not compromise food security. For the purpose of this topic, nature markets encompass market mechanisms (e.g., nature credits as proposed in the Nature Credits Roadmap [1] , carbon credits, market-based payments for environmental services) mobilising private finance to create income streams for primary producers in return for undertaking actions supporting well-functioning ecosystem services (e.g., water quality and availability, biodiversity, climate). Strategies are needed to balance market incentives, safeguard food supply and the environment, and support farmers in diversifying incomes through sustainable business models and value chains. Successful proposals should support the EU Vision for Agriculture and Food, the Common Agricultural Policy, the new EU bioeconomy strategy, the Carbon Removals and Carbon Farming (CRCF) Regulation and the climate and biodiversity objectives of the European Green Deal. Proposals should: explore natural capital accounting methods integrating economics and nature into agricultural accounts, and their potential to support economic valuation, pricing and integration in decision-making of environmental services provided by farmers; analyse existing and develop new innovative business models and value chains from which farmers can derive fair value and new income beyond food and feed production. This work should include, among others, an assessment of their potential to integr…