Increased production of biomass is currently the only immediately accessible alternative for large-scale carbon sequestration and it can produce large amounts of food, fuel and raw materials for the chemical industry that can in turn growingly replace oil as a source of organic building blocks and also of hydrogen and sulfur. Development of processes for biomass and abundant minerals transformation into chemical raw materials should now benefit from large inputs from nanotechnologies, biotechnologies, information and micro-reactor technologies. Success in R&D&Innovation along this line can yield new products and processes needed to perform desirable functions within a sustainable development paradigm.