I'm not personally familiar with this product (& can't read your bag) so a quick look up tells me this is intended for a bio-active set-up (intended to support living plants & tiny living organisms), which is something I don't personally do, but others here do.
I'm currently using Reptibark (by Zoo Med) for a humidity-holding substrate, & I suspect that even if you don't plant a thing in your substrate, it will be fine as well. Like your substrate, my Reptibark feels slightly damp, which gives the humidity that BPs & some other herps need & like. You may need or want to mist it now & then too, btw.
Your Bio Life is meant to duplicate the natural world your snake would inhabit in the wild, so I'm sure it's quite safe as well. Reptibark is not intended to support plant growth (it's made only of fir bark) but is intended to retain good humidity. There's a number of other products around too (such as Forest Floor cypress mulch, & various coco fiber products), some also use natural moss. They all work fine, just whatever you like best.
And also...![]()