ESG sentiment has become more negative across global markets, but most investors are maintaining or increasing their commitments, according to new research from LGT Capital Partners.
The firm’s ESG Survey 2026 found 65% of respondents said sentiment towards ESG had worsened in their primary region – but 92% had either maintained or increased their ESG commitments.
Meanwhile, 77% said the importance of ESG in their investment decision-making had not changed.
The findings were published as part of LGT Capital Partners’ ESG Report 2026, which includes responses from 191 asset managers, asset owners and advisers across different regions and asset classes.
The report suggested that changes in sentiment are having a greater impact on how ESG is discussed than on how it is implemented.
LGT identified a sizeable group of “recalibrators” which continue to integrate ESG but are reassessing where it is most relevant, how it should be applied and how it is communicated.
The firm said this has led to a greater focus on financial materiality, risk management, data quality, client expectations and long-term value creation.
Its annual manager assessments also found ESG integration was becoming more established across private markets. More than 400 managers were assessed across private and public markets in 2026.
Climate remained the environmental issue most frequently considered by managers, while biodiversity was becoming more visible in policies and assessment processes.
Public markets presented a more mixed picture, with ESG integration varying between different asset classes and strategies.
Tycho Sneyers, managing partner at LGT Capital Partners, said: “Looking ahead, we expect responsible investing to become more selective, more evidence based and more closely linked to financial materiality. The focus will increasingly be on data quality, investment relevance and credible implementation.”
He added LGT regarded this as a “natural evolution” of responsible investing and part of its commitment to clients’ long-term interests.
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