Renewable energy production from biomass sources and related bio-based economy is gaining more and more attention nowadays. Research related to biomass and bio-based fuels is an important part of the strategic agenda of many countries in Europe and Asia. Furthermore, upscaling investigation in the area is undergoing in many other countries around the globe like United States, China, and India. The expansion of the biofuels usage raises concerns related to their production sustainability, including several environmental, economic, and social aspects. The aim of this chapter is to present in detail the evaluation of different climate matrices used in global biomass energy research. A strategic framework for production of biofuels and their utilization is also presented. This strategic framework merges the different environmental indicators and conversion technologies in order to achieve a sustainable circular bio-based economy.