Resource taxonomy and use in the bioeconomy

The inevitable global paradigm shift in resource use has led to a situation where each country needs to be aware of the types of resources available in its territory, and how to use them most efficiently. Socio-economic differences between countries have existed in the past and continue to exist today. However, it is necessary for each country to develop its economy by assessing the resources at its disposal and to find ways of using these resources that are economically sound and improve the quality of life of its citizens. Economic development in Latvia will be boosted by a shift in the economic model from fossil to renewable resources, as Latvia has a comparative advantage in using the natural renewable resources available on its territory for priority economic growth in the bioeconomy sectors. Successful development of the bioeconomy sectors requires a clear identification and inventory of the resources available and deployable in these sectors. Resource use in the bioeconomy involves the use of nature’s renewable biological resources (soil, plants, animals, micro-organisms such as microalgae) and biological processes (biotechnology, biochemistry, bioengineering) to produce goods and services in different sectors of the economy, while addressing the challenges of climate change, food security, energy sovereignty and environmental protection. There are different ways to classify and categorise the resources and 61biological processes used in the bioeconomy sectors. The most common approach to identifying and classifying the resources available in a country is to use a resource taxonomy. A resource taxonomy is a system that classifies and groups resources according to their origin, type, qualitative characteristics (e.g. oil and starch content or mechanical strength), sustainability (impact of the production process on the natural environment) and the bio-processing used. Using this taxonomic approach, biological resources and biological processes are grouped into four categories.