The British government has backed the North Sea by choosing to impose “climate compatibility” checks on new projects instead of an outright ban on new drilling.
Westminster has cut a deal with the North Sea industry which commits to cutting its emissions by 50% by the end of this decade, according to reports.
At the same time, a joint investment deal worth US$16bn is to support some 40,000 jobs in the North Sea.
It is described by the government as a landmark deal.
The UK’s business and energy secretary, Kwasi Kwarteng, claimed the deal sends a clear message that the UK is a nation of clean energy, and, it won’t leave oil and gas workers behind.
Greenpeace, meanwhile, called the development a “colossal failure in climate leadership”.
“Instead of finding ways to prop up this volatile and polluting sector, a better proposition for workers and communities would be for the government to confirm a ban on new licences, and put all its energies into a nationwide programme of retraining, reskilling and investment in renewables and green infrastructure,” said Greenpeace UK spokesperson Mel Evans.