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Developing & piloting biodiversity footprinting & natural capital accounting via a 'beehive' of sectoral hubs, for sustainable transition to a circular EU bioeconomy

Project description

Ensuring an economy powered by nature is good for nature

The circular bioeconomy (CBE) is a new economic model that makes maximum use of renewable natural resources while minimising waste. Biodiversity determines the resilience of the biological systems that provide us with these renewable natural resources. The EU-funded CircHive project aims to measure and integrate the value of nature transparently into public and business decisions. In this context, CircHive will improve data availability and develop scientifically robust and standardised methods for bridging biodiversity footprinting (BF, or life cycle assessment) with natural capital accounting (NCA, or bookkeeping). To guarantee real-life suitability, CircHive will test these with cities and companies in the case-study network (BEEHive) to demonstrate how CBE and biodiversity support each other in terms of resources and sustainable business practices.

Objective

Biodiversity is the true driving force of a sustainable, circular bioeconomy (CBE). While the CBE needs advanced technology and innovation to succeed, biodiversity determines the capacity of biological systems to adapt and evolve. For this reason, biodiversity considerations need to be reflected in economic practices and valuation. CircHive will measure and integrate the value of nature into public and business decision making by: 1) improving data availability, accessibility, and harmonisation; 2) developing a standardised method for biodiversity footprinting (BF) and integrating it with natural capital accounting (NCA); 3) mainstreaming the use of BF and NCA in public and private decision making, incl. improving disclosure, risk management, and investment practice; 4) testing and improving the developed methods and models; and 5) building a wider community ‘BEEHive’ for peer support and exploitation of results. A strong emphasis is put developing scientifically robust and standardised methods that bridge BF (life cycle analyses) and NCA (bookkeeping), given their multiple overlaps but also divergences that hinder operationalisation and uptake. An equally strong emphasis is placed on practice-testing to understand current practices and opportunities for further mainstreaming of biodiversity and natural capital into disclosure, ecolabelling, and investment decisions. Transitioning theory to practice is put to the test via a case study network who will apply different biodiversity-centric approaches in real life. This is carried out in sectoral case study hubs (industry, retailers, investors, cities) for peer learning and capacity building. In CircHive’s approach, CBE and biodiversity reinforce each other as a basis for resources and inspiration for sustainable business practices. The integration of the value of nature into public and business decisions, will benefit both the protection of ecosystems and their services and the profitability of sustainable businesses.

Fields of science (EuroSciVoc)

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Keywords

Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)

Programme(s)

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Topic(s)

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Funding Scheme

Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.

HORIZON-IA - HORIZON Innovation Actions

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Call for proposal

Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.

(opens in new window) HORIZON-CL6-2022-BIODIV-01

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Coordinator

LUONNONVARAKESKUS
Net EU contribution

Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.

€ 1 660 250,00
Address
LATOKARTANONKAARI 9
00790 Helsinki
Finland

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Region
Manner-Suomi Helsinki-Uusimaa Helsinki-Uusimaa
Activity type
Research Organisations
Links
Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

€ 1 660 250,00

Participants (24)

Partners (4)

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