[SINGAPORE] Claims that there is a retreat from sustainable investing is a myth, said former US vice-president and climate advocate Al Gore.

Investment trends are, in fact, accelerating in the opposite direction, especially after the Iran War exposed the vulnerabilities of the fossil fuel-based energy system, and the urgent need to pivot to renewable sources for greater energy security and resiliency.

“This has been a warning shot to all nations who are dependent on fossil fuels – they’re not reliable. The price fluctuates so wildly, and not to mention the climate consequences, which... are so so severe,” said Gore, in an exclusive interview with The Business Times.

“This is an economic issue that has caused many countries to redouble their investments in green technologies, in renewable energy, in batteries, in electric vehicles, in efficiency improvements, and the war in Iran has been a turning point where the shift of investment is concerned,” he added.

Citing data from the International Energy Agency, he noted that global investments in clean energy has outpaced fossil fuels over the last 10 years.

While around 55 per cent of the world’s energy investments went into fossil fuels in 2015, that has flipped, with clean energy now accounting for 65 per cent of investment.

Data from the International Renewable Energy Agency showed that renewables made up around 86 per cent of new power generation capacity in 2025.

The proportion was even higher in the United States at 92 per cent, despite US President Donald Trump rolling back climate and clean energy policies.

Gore said: “The market is speaking and the market is saying that sustainability factors are not just a nice-to-have element; it’s essential to having a sensible approach to what the energy future and the environmental future and the economic future of the world is likely to be driven by.”

Echoing remarks by index provider MSCI’s chief executive officer Henry Fernandez, who recently said that investors ignoring clima...