The European Union has announced a €1.2bn green finance auction, with a portion dedicated to funding clean shipping fuels. The European Hydrogen Bank will allocate €200m specifically for projects aimed at producing green hydrogen-based fuels for the maritime sector. This allocation underscores the EU's commitment to promoting sustainable energy solutions within the shipping industry. The funding for the auction is sourced from the EU's Emissions Trading System, which now requires vessels to pay for their pollution rights. The remaining €1bn from the auction will be open for other sustainable end-uses, further emphasizing the EU's push towards cleaner energy and reduced emissions. This strategic investment by the European Hydrogen Bank signifies a significant step towards a more environmentally friendly maritime sector.