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Other factors driving the uptake of industrial biotechnology products are: the relative price of feedstocks compared to the price of crude oil; the technological progress; and the relevant policies and measures put in place. Insightful companies have already discovered the potential of biotechnology to cut GHGs emissions (Figure 2). However, as with most technologies, the potential to achieve sustainability goals does not automatically translate into such goals being realised. There are still numerous challenges for industrial biotechnology — including technical, commercial and sustainability challenges — inhibiting large scale diffusion and commercialisation. The impact of industrial biotechnology on global GHG emissions will depend on the framework conditions in which this technology is applied. In the short term industrial biotechnology will mainly increase process efficiency and reduce emissions. In the longer term however, the impact of industrial biotechnology on GHG reductions will not be determined by the development of the technology alone, but by the supporting socio-economic environment and policy context, and proactive effort from both industry and policy makers, as well as by the main actors of the biobased value chain. Figure 2. Process inputs in terms of energy, chemicals and natural resources as well as emissions to water and air were reduced Source: Joint Research Centre (2008) — Consequences, Opportunities and Challenges of Modern Biotechnology for Europe – The Analysis Report – Contributions of modern biotechnology to European policy objectives. INDUSTRIAL BIOTECHNOLOGY AND CLIMATE CHANGE: OPPORTUNITIES AND CHALLENGES – © OECD 2011 13PDF Image | Industrial Biotechnology and Climate Change
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