Europe’s clean transport push faces a €100 billion financing gap
In Belgium, the United Nations Environment Programme Finance Initiative and the European Banking Federation said banks, policymakers and industry leaders are working to turn the European Union’s Sustainable Transport Investment Plan into real projects, warning that aviation and shipping will need far stronger financial support to scale cleaner fuels.
The plan from the European Commission aims to mobilize funding to expand sustainable aviation fuels and cleaner maritime fuels, sectors that still rely on fossil energy for nearly all of their operations. Aviation contributes more than €110 billion to the EU economy and maritime transport about €61.8 billion, while together they account for roughly a quarter of transport emissions.
EU funding tools are expected to mobilize at least €2.9 billion in the early stages, but meeting the bloc’s fuel targets could require about €100 billion by 2035.
Participants said projects struggle to attract financing without clearer long-term signals that demand for cleaner fuels will grow. Banks and industry groups called for stable policy frameworks, financial guarantees and other support to help narrow the cost gap between new fuels and conventional ones.
They also pointed to collaborative approaches such as green shipping corridors and shared infrastructure to help build demand and move projects from policy plans into construction.
Category: Sustainable Marine Fuels
