The broad concept of bioeconomy is increasingly being promoted as a potential strategy to foster sustainability transitions and address climate change. Key elements are the replacement of fossil-based raw materials with bio-based alternatives, fostering more efficient use of biomass, or developing bio-based materials, increasing the economic value of forestry and agriculture and promoting innovation in biotechnology. Although policy makers often focus on win-win scenarios and technical solutions, sustainability benefits are by no means automatic and without appropriate safeguards and sustainability strategies bioeconomy development may also carry significant risks and trade-offs. How such trade-offs and risks are dealt with is a key issue in the politics of sustainability transitions. It is crucial to understand which priorities are reflected in policy strategies, what trade-offs and risks there are and how key stakeholders approach these. We examine these questions in relation to bioeconomy development in three South American countries, Argentina, Brazil and Uruguay. Many South American countries have high levels of inequality and reports of socio-environmental conflicts related to natural resource governance have increased significantly over the last two decades while political polarisation often makes it difficult to find consensus. Promoting inclusive and equitable bioeconomy development is therefore a major governance challenge. In this context, the question of trade-offs and risks becomes crucial. It is only when trade-offs and risks are dealt with explicitly and transparently that inclusive and equitable bioeconomy development can become possible. We have coded the main bioeconomy strategy documents of the three countries for the 17 Sustainable Development Goals to understand which aspects of sustainability are reflected in bioeconomy strategies. This shows that while all SDGs are covered to some extent, there are some important interdependencies and trade-offs which are hardly given attention. We triangulate this document analysis with over 50 in-depth interviews with key stakeholders in the three countries to understand to what extent trade-offs are recognised and how these are approached. While there are some interesting differences between countries and types of actors, it is clear that the question of trade-offs and risks remains a thorny one that requires more attention in order to foster inclusive and equitable sustainability transitions in South America.
