The fund, Impax New Energy Investors II, targets EU renewable energy projects, such as wind and solar companies, which expect to have positive cashflows within a year.

FORBES: Impax Fund Reveals Growing ESG Acceptance Among UK Pension Funds

The ruling challenges the Dublin II Regulation, used by many EU countries to send asylum seekers back to Greece, despite the country's backlog of cases.

BBC: Afghan wins key asylum case at European Court

For instance, the Dublin II directive says that asylum seekers must file a claim in the first EU country they reach.

ECONOMIST: European politics

Mr Jagland highlighted the EU's work in sealing the reconciliation between France and Germany in the decades after World War II and praised the organisation for incorporating Spain, Portugal and Greece after their authoritarian regimes collapsed in the 1970s.

BBC: Nobel Peace Prize awarded to European Union