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5 Impact Assessment In this chapter, we review the impacts of the policy actions as proposed. We do so by identifying the relevant economic, social and environmental impacts (5.1), followed by an assessment at the level of measures (5.2), and based on the (often limited) information available about these policy actions. Those more substantial impacts will then be assessed in more detail (5.3). This will culminate in a comparison of options (5.4). 5.1 Inventory of relevant economic, social and environmental impacts The Impact Assessment Guidelines112 provide a long-list of potential impacts, of which a selection has been made limiting the analysis here to those impacts that are applicable to the policy options defined. An explanation is given in Table 5.1, where also the relevance to three of the policy options presented in Section 4is indicated. These impacts will be assessed in more detail in the remaining sections. Table 5.1 Main impacts and relevance to the defined policy options Impact 2 Economic Competitiveness, and investment flows Operating costs and conduct of business/Small and Medium Enterprises Property rights Innovation and research Specific regions or sectors Consumers households and Third countries and international relations Social Employment and labour markets Individuals, private and family life, personal data Public health and safety Social impacts in third 112 √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ trade √ Relevant to policy option 3 √ 4 √ Impact on the position of EU Blue Biotech firms in a global setting would be strengthened. Finance actions in particular would contribute to continuity and development of Blue Biotech SMEs; bioprospecting actions would reduce transaction costs. UNCLOS provisions on benefit sharing would help to ensure that bioprospecting results are clearly shared No particular actions in A and C in this area; supportive measure in B. Those regions where Blue Biotech is most present; longer term impacts on food, cosmetics, health and energy sectors Actions proposed would ultimately benefit consumers in areas of food, cosmetics, health and energy UNCLOS provisions on benefit sharing and environmental impact assessment √ √ √ Job creation expected as part of growth in SMEs Creation of Blue Biotech SME database would require disclosure of personal data A thriving Blue Biotech sector would increase the chance of bringing to market products that treat diseases. √ UNCLOS provisions on benefit sharing would help Based on the full list of Impacts and Key Questions available in the EU Impact Assessment Guidelines (2009), p. 32-38 Explanation Study in support of Impact Assessment work on Blue Biotechnology 71

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