While glimmers of hope existed, COP30 was chiefly marked by a lack of progress. Proposed emissions reductions were estimated to fall well short of requirements, while a fossil fuel phase-out and the finalisation of the deforestation roadmap failed to materialise, possibly reflecting the increased difficulty of negotiating in a more fragmented, multipolar world.

Europe’s journey with ESG (Environmental, Social, and Governance) investing has been nothing short of transformative. In the early 2020s, a wave of sustainable finance swept the continent, with investors, institutions and policymakers rallying behind ambitious net-zero targets, climate-focused funds booming and regulatory frameworks like the EU’s Sustainable Finance Disclosure Regulation (SFDR) setting the pace for global markets. But the landscape is shifting. Initial exuberance is giving way to a more pragmatic approach. Nonetheless, in the face of intensifying pressures such as climate shocks, the integration of ESG considerations into investment decision making has become all the more pressing, in order to manage risks and maintain competitiveness and future-readiness.

In partnership with the University of Liège, DPAM has launched the second iteration of the Paris performance ranking. This edition tracks the progress of 34 OECD countries, in comparison to 23 last year, in meeting their commitments under the Paris Agreement.