Nova Innovation has secured EU funding for a 4MW tidal energy farm off Orkney that will be home to the largest number of tidal turbines anywhere in the world.
This week, EU policymakers have turned their attention to a series of sustainability initiatives, with mixed results.
The EU Commission has launched its first European Hydrogen Bank auction with €800 million (£695m) in subsidies available for renewable hydrogen production.
The European Parliament has published its position ahead of COP28 in Dubai, including agreeing upon a fossil fuel non-proliferation treaty.
European Union member states have agreed to restrict the export of hazardous and harmful waste within the EU and to non-Organisation for Economic Co-operation and Development (OECD) countries.
The recent publication of the Fifth National Assessment report in the US has once again highlighted the economic and human costs of climate change. In the US alone $75 billion worth of damage has been recorded so far this year, and concerns are being raised about the associated knock-on impacts on food security and resource management.
European Union negotiators struck a deal to curb methane releases from fossil-fuel infrastructure and plotted a course to monitor and limit the emissions associated with imported energy sources.
The EU announced plans to postpone the deadline to adopt sector-specific European sustainability reporting standards (ESRS), just as the Parliament fended off an attempt to dilute their requirements.
The EU has approved conclusions that will serve as its general negotiating position for COP28, but its view on a fossil fuels phaseout has disappointed climate campaigners.
Banks in Europe will need to adjust the risk assessments they conduct of their clients to reflect new ESG requirements enforced by their watchdog.