Dhaka, Nov. 9 -- The European Commission has announced the Sustainable Transport Investment Plan (STIP), a strategic initiative to accelerate Europe's transition to sustainable aviation and maritime fuels.

As part of the EU's Clean Industrial Deal, the plan provides a framework to unlock private investment and support the production of renewable and low-carbon fuels for air and sea transport.

Transport is one of the EU's most emissions-intensive sectors, and aviation and shipping are among the hardest to decarbonise. The STIP aims to meet the fuel targets set under the ReFuelEU Aviation and FuelEU Maritime regulations, which require around 20 million tonnes of renewable alternative fuels by 2035.

Achieving this will demand an estimated...