This Master Thesis deals with the problems of Climate Change and the scarcity of fossil energy resources. The potentials of renewable energies are discussed, as possible mitigating measures, with a special focus on biomass. A case study investigates the steam production of a soy-processing company in Serbia, where biomass is being successfully used as a substitution for fossil fuels. The application of Material Flow- and Cost Benefit Analysis shows that investment in Environmentally Sound Technologies can lead not only to a reduction of greenhouse gas emissions, but also to considerable economic benefits. Additionally, economic incentives with regard to financing mechanisms of international institutions and market based mechanisms leading to technology transfer under the United Nations Framework Convention on Climate Change are taken into consideration.