Risk management in the bioeconomy

Authored by: Jutta Geldermann

The Routledge Companion to Risk, Crisis and Security in Business

Print publication date:  June  2018
Online publication date:  June  2018

Print ISBN: 9781138643109
eBook ISBN: 9781315629520
Adobe ISBN:

10.4324/9781315629520-14

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Abstract

Current industrial production is based largely on fossil energy resources. The twin goals of reducing greenhouse gas emissions and moving from finite fossil resources to sustainable renewable resources are driving the search for alternative energy inputs and feedstocks. The possibilities for using agricultural and forest plants for raw materials and energy are manifold, and their cultivation has increased accordingly in recent years. Cascade and by-product utilization are major strategies to increase resource efficiency, which can be a key economic advantage in competitive businesses and can also limit environmental impacts. These strategies are characterized by multiple, sequential utilization of the same input prior to its energetic conversion at the end of the life cycle. This approach leads to more complex production networks, however, since it requires companies from previously unrelated industries to collaborate and learn how to utilize residual and fresh biomass in new value chains (Kircher, 2012b). Moreover, innovative material developments significantly affect feedstock production, industrial processes, production sites, infrastructure and logistics, distribution network structures, and trade.

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