It is hoped that a future bioeconomy will contribute to sustainability, e.g. through the substitution of exhaustible mineral resources with biomass. A reduction of mineral resources such as fossil fuels could help reducing greenhouse gas (GHG) emissions and import dependency. However, biomass production requires fertile land areas and other limited resources such as freshwater or plant nutrients, as well as infrastructures. These may result in environmental pressures and lock-in effects. Producing additional biomass for the bioeconomy may result in increased competition for land, e.g. between food and raw material production, jeopardize the integrity and diversity of ecosystems and result in GHG and other emissions, for example when forests are replaced by energy crop plantations. Indirect effects such as the replacement of food crops with energy crops that then result in land-use change elsewhere, also need to be taken into account. The draft concept paper developed in this small project will outline cornerstones of a scientifically robust monitoring system for a bioeconomy. It will be focused on three aspects, resource provision, foreign trade and resource use efficiency. It will propose indicators and reporting systems based on previous research at the Institute of Social Ecology, considering methods such as material flow analysis (MFA), the human appropriation of net primary production (HANPP), measures of embodied HANPP (eHANPP) as well as related models, such as the BioBaM model.