The Markets Have Moved On: Q2 Recap

Looking back over the last three months of market developments, one theme stands out:

The markets have moved on.

Not away from sustainability — but beyond the debate about whether it matters.

While much of the public conversation remains focused on politics and regulation, capital markets and leading organizations are focused on what comes next.

4 signals that stand out:

📈 1. The market is signalling where the future is headed

Clean energy investment is expected to reach nearly twice the level of fossil fuel investment this year. In the U.S., solar generated more electricity than coal for the first time on record. Canadian companies with stronger climate disclosure have attracted increased interest from international institutional investors, reinforcing that credible disclosure is becoming a competitive advantage — not just a compliance exercise.

These are signals about where capital, infrastructure and business opportunities are moving.

📚 2. The sustainability standards landscape is entering a new phase

This quarter brought SBTi's finalized Net-Zero Standard V2.0, ISO's new global transition-planning standard for financial institutions, continued movement on ISSB alignment and EU disclosure rules, and Canada's draft sustainable finance taxonomy.

The challenge is no longer just understanding what’s changing — it’s knowing what matters and where to focus.

🏢 3. Organizations are turning inward — building capability

This phase of sustainability is about ensuring organizations have the governance, skills and internal alignment needed to maintain momentum.

Leaders are focusing on clearer roles and responsibilities, strengthening climate literacy across teams, and creating the governance models needed to move sustainability into everyday decision-making.

🛡️ 4. Climate risk has become an enterprise risk issue

Wildfires, floods and other physical hazards are affecting operations, assets, insurance and investment decisions today.

Organizations are moving beyond identifying climate risks toward integrating them into enterprise risk management and strategic planning.

These are the shifts I’m helping organizations navigate. If they're on your agenda, I'd love to connect.