Nearly all (94 per cent) investors with net-zero targets said they would maintain those commitments regardless of government policy, despite ongoing concerns over political and regulatory uncertainty, according to Robeco’s Global Climate Investing Survey.

According to the research, which surveyed 200 institutional and wholesale investors, including pension funds, 45 per cent of respondents rated uncertainty over government policy as the biggest obstacle to more climate-centric investment.

Only 19 per cent said they expected an orderly climate transition, with 47 per cent expecting ‘too-little, too-late’.

However, sentiment towards climate-focused investing remained resilient, with 60 per cent of respondents expecting to increase allocations to investments aimed at tackling climate change over the next three years, while 59 per cent said demand for climate mitigation solutions would remain strong regardless of political sentiment.

Elsewhere in the survey, two thirds of investors expected physical climate risks to have a moderate or significant impact on asset prices over the next five years.

The research also showed that while investment performance remained the biggest challenge associated with portfolio decarbonisation, concern over the issue fell from 67 per cent in 2025 to 50 per cent this year.

Robeco climate and biodiversity strategist, Lucian Peppelenbos, commented: “Our 2026 study illustrates what we call the new reality of climate investing.

“While investors remain committed to their net-zero goals, there is a growing realism that the transition is driven by hard economics and hard geopolitics.”

He added: “The drive for energy security is benefiting investments in areas such as renewables, battery storage and grids.

“The new climate reality is also a realization that physical risks are here now, not in a distant future. We believe this will increasingly drive investor sentiment in the next few years.”

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