This year’s Climate Week in New York City marked a pragmatic reset. Executives spoke less about climate pledges and more about uncertainty and constraints. They also spoke resolutely about how they are integrating sustainability into their core business and investment decisions.

Four key themes stood out to us regarding energy, finance, manufacturing, and food systems.

Energy: Innovation and partnerships fuel an “all of the above” strategy to balance AI momentum with grid constraints.

AI and data centers combined with the electrification of industry and transport are driving rapid, durable demand for electricity that is fundamentally reshaping planning assumptions around the globe. The sheer size of this demand is fueling real momentum for an “all of the above” strategy that balances the rapid and cost-effective expansion of renewables and storage while also recognizing that conventional and nuclear generation will be critical to system reliability.

In developed markets, the focus is on grid modernization, faster permitting, and the challenge of sourcing needed equipment at scale. Executives also spoke of how interest rates, tariffs, and capital costs (including those associated with more extreme weather events) are pushing up customer bills. Additionally, there is real concern about a shortage of the skilled labor needed to build all the infrastructure required.

To accelerate project execution, some companies are turning to creative partnerships—many among investors, utilities, and tech players. In the US, the Meta-Entergy collaboration in Louisiana and Blackstone’s investment in NiSource’s generation portfolio are two early examples.

Wide scale implementation of digital solutions, including AI and robotics, could increase efficiency, streamline maintenance, improve worker safety, and accelerate energy delivery. One energy OEM estimated that the emissions savings from such measures would outpace the anticipated emissions increase from data center build-out by three times.

Finance: From climate risk to growth engine, investors double down on resilience and adaptation.

Executives across industries agreed that the climate transition is no longer theoretical. The economics are clearer, and sustainability is driving major investment decisions in infrastructure, equipment, and technology.

Investment managers are positioning sustainability as a core value creator, demonstrating how their portfolio companies can grow their top line by opening new customer segments and improving operational efficiency. Leaders described how their sustainability track records have helped increase allocations from existing investors and attract new ones. One investor said their firm had secured $500 million from new investors on the strength of their sustainability capabilities. An investment theme around adaptation and resilience—for example, in companies that provide cooling services, building weatherization products, and weather forecasting software—is coming more and more to the fore. These developments also underscore the strategic imperative in private equity.

Climate physical risk to assets is increasingly impacting company valuations. Companies are dealing with rising insurance costs, coverage challenges, and direct challenges to business continuity. Executives spoke of the value of deeper supplier relationships, standardized emissions reporting frameworks, and using sustainability data to uncover new insights for customers. Companies are partnering with new data providers to map their exposure and adapt.

Manufacturing: Less talk, more traction as sustainability moves from pledge to commercialization.

Even as executives make fewer public statements, companies remain committed to their sustainability goals. At the same time, many companies continue to struggle with supply chain emissions. Tracing and abating scope 3 emissions from manufacturing supply chains remains a major challenge. And in some industries, customers are balking at the unanticipated cost of products designed with sustainability in mind.

The emphasis is shifting from enterprise-level sustainability to the commercialization of sustainable products. That includes products that enhance efficiency, that lead to more sustainable outcomes for customers, and that are more affordable for the final consumer. Sustainability is increasingly seen as the outcome rather than the focus of practical efforts to conserve water, reduce deforestation, and increase energy and resource efficiency. By diversifying suppliers, decarbonizing procurement, and embedding traceability across supply chains, companies are reducing their exposure and becoming more cost efficient.

Food systems: Discussion of adaptation, traceability, and cross–value chain collaboration set the table for COP30, dubbed the “Food COP.”

Executives expect the transformation of food systems to top the agenda at COP30 in Brazil in November, which some are now referring to as the “Food COP.”

Climate disruption, technology, and shifting consumer expectations are changing the food businesses. Shareholder returns have fallen from 15% a decade ago to just 2.9% today, with no breakout leader in sight. Conversations this week highlighted the need to redesign food systems to withstand volatility and unlock growth. Adaptation and traceability emerged as key opportunities, with leaders noting that “green” food commodities—including those cultivated using regenerative agriculture techniques and less carbon-intensive fertilizers—create value by strengthening supply chain resilience and quality.

Food production continues to face challenges. Complex value chains with multiple stakeholders and a need to align them all toward more sustainable practices requires pre-competitive and cross–value chain partnerships. Some encouraging examples of this type of collaboration among farmers, agriculture, and food companies were highlighted in New York, with some emerging in high-impact areas, including regenerative row crops in North America and deforestation-free beef in Brazil.