THE DEVELOPMENT OF BIOECONOMY OF THE BALTIC REGION IN THE CONTEXT OF REGIONAL AND GLOBAL CLIMATE CHANGE

Climate change is projected to have a profound effect on natural ecosystems, biodiversity, and societies both in the Baltic region and globally, particularly so through agriculture and food systems. The Baltic region has a vast potential for the development of bioeconomy due to the existing opportunities for biomass production and advances in microbiology leading to process- and product innovations in biomass production and utilization. The development of sustainable bioeconomy in the Baltic region, however, requires a flexible and timely adaptation to climate change. Based on an overview of the relevant state-of-the-art literature, the article explores the implications of the development of bioeconomy for the adaptation to and the mitigation of climate change in the Baltic region. The paper elaborates on actions that may facilitate the sustainability of bioeconomy in the region. It concludes that scientific collaboration across borders in the Baltic region can accelerate innovations to successfully adapt bioeconomy to climate change. Sustainable development of bioeconomy can provide considerable opportunities for mitigating climate change.