Institutional investors across the globe are turning their attention to climate investment opportunities outside of the U.S., following the re-election of Donald Trump, according to Robeco’s newly released “Global Climate Investing Survey 2025”.
According to ESG Today, the shift comes as concerns grow that the new U.S. administration’s policies will negatively affect global net zero progress and hinder investors’ decarbonisation goals.
Robeco surveyed 300 institutional and wholesale investors spanning Europe, North America, the Asia-Pacific region and South Africa. The participants, which included insurers, pension funds, sovereign wealth funds, and family offices, collectively manage over $31tn in assets. The study reveals a significant drop in climate-related investment prioritisation. Only 46% of respondents now consider climate change central or significant to their investment policy, a sharp decline from 62% the previous year. In North America, the fall was most pronounced, plunging to 23% from 35% in 2024 and 61% in 2023.
Nearly 60% of surveyed investors said they are delaying decisions involving U.S.-linked assets until there is greater clarity on the new administration’s policies. Despite this hesitation, most investors believe the impact of U.S. policy changes will be short-lived. Some 56% expect global net zero momentum to bounce back once the current administration ends. Likewise, 53% believe their own decarbonisation efforts may slow temporarily, but the overall trajectory remains intact.
As a result, many are actively shifting their climate investment strategies overseas. The survey found that 58% of European investors and 62% in Asia Pacific will increase their focus on climate-related opportunities outside the U.S. Even in North America, 38% of investors plan to explore international markets for investments in renewable energy, climate solutions, and companies undergoing green transitions.
Investor confidence in national government support for net zero also plays a role. While 52% of European investors and 62% in Asia Pacific expect sustained or increased government backing for the transition, just 4% of North American investors feel the same.
Despite geopolitical and macroeconomic volatility, the appetite for climate solutions remains strong. Nearly 40% of investors plan to boost investments in climate mitigation areas over the next two years. Key sectors include electricity grid modernisation (39%), renewable energy and clean power (34%), and new technologies such as sustainable real estate, battery innovation, and carbon capture (each cited by 31% of respondents).
In contrast, investment in climate adaptation remains subdued, with barriers including concerns about risk-adjusted returns (58%), a lack of suitable investment products (47%), and difficulty identifying credible opportunities (42%).
Robeco climate and biodiversity strategist Lucian Peppelenbos said, “This year’s survey highlights a sobering reality: while many investors remain committed to climate goals, the overall prioritization of climate change in investment strategies is showing signs of decline, particularly at the global level.
“This underscores the importance of staying focused and adaptable. We recognize that our clients are navigating a complex and evolving landscape, with varying levels of policy support and market confidence. Our role is to support them – wherever they are on their sustainability journey – by aligning our investment strategies with their specific goals, whether focused on return, risk, sustainability, or a combination of all three.”
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