The New Investor Narrative: Discussion Document

In an era marked by geopolitical volatility, rapid technological change, rising energy demand, and intensifying extreme weather, investor interest in climate resilience remains strong. For investors, climate mitigation, adaptation, and resilience are not political positions—they are fundamental considerations of risk, return, and long-term value creation. As the global economy enters what many now call the Age of Adaptation, early movers are positioning themselves to reduce portfolio risk while capturing emerging opportunities across energy systems, infrastructure, nature, food systems, and resilience.

To help investors navigate this moment—and communicate their strategies amid political and ideological discord—the Milken Institute’s Geo-economics team convened a series of global investor dialogues and conducted international polling in the fall of 2025, on the eve of COP30 in Brazil. This report shares key findings from that work, offering insight into how investors view climate risk, where capital is already flowing, and why narratives centered on economics, math, and opportunity resonate more effectively than crisis framing.