可持续发展投资：2026年日益改善的环境

Core Viewpoint - The sustainable investment landscape is facing increasing complexity and uncertainty due to significant global political changes, yet there remains a strong ongoing support for sustainable investment strategies among investors [1][4]. Group 1: Growth of Sustainable Investment - Since the late 1990s, the sustainable investment market has experienced steady growth, with 53% of asset owners evaluating or implementing sustainable investment practices by 2018 [2]. - This figure surged to 86% by 2022, driven by the consensus from the Paris Agreement and the EU's regulatory agenda supporting sustainable finance [3]. Group 2: Market Challenges - The outbreak of the Russia-Ukraine war in 2022 reversed strong excess returns from many sustainable investment strategies, leading to a resurgence in fossil fuel industries and a shift in European policy priorities towards energy security over emissions reduction [4]. - Political polarization has resulted in decreased support for net-zero emissions and diversity in ESG policies, creating a challenging environment for sustainable investments by 2025 [5]. Group 3: Resilience of Sustainable Investment - Despite the new economic and political landscape, the sustainable investment market has shown resilience, with 73% of asset owners indicating they consider sustainability in their investments, a figure that has remained stable over the past three years [7]. - Climate change remains a core issue for many investors, with the highest level of concern regarding climate risk recorded in the asset owner survey [11]. Group 4: Green Economy Growth - By Q1 2025, the global green economy is projected to account for 8.6% of listed markets, with a market value of $7.9 trillion, reflecting a compound annual growth rate of 15% over the past decade [11]. - The green bond market set a record with $572 billion in annual issuance in 2024, marking a 10% increase from 2023, and the total issuance value surpassed $3 trillion by Q3 2025 [12]. Group 5: Regulatory Developments - The regulatory environment for sustainable investment is undergoing a reset, particularly in Europe, with the EU's Omnibus proposal introducing simplifications to the sustainable finance framework [12]. - There is a significant potential for streamlining compliance costs and improving international consistency in sustainable finance regulations [12]. Group 6: Future Outlook - The investment rationale for sustainability will increasingly rely on long-term assessments of specific sustainability factors, supported by improved data availability [14]. - The combination of energy transition progress, ongoing policy actions, streamlined regulations, and better data availability provides a solid foundation for future sustainable investment growth [14].