The fifth edition of Capital Group’s ESG Global Study, the report explores investors’ views on the role of ESG in the investment process, drivers behind evolving approaches to ESG, and other ESG-related topics. This year’s results show that, while global ESG adoption has edged lower from the record-high level in 2023 and 2024, numbers remain robust. The modest downshift reflects varying degrees of concern over policy, regulatory changes and economic uncertainty, among other risks. ESG adoption stands at or above 90% in Europe, the Middle East and Africa (EMEA) and Asia-Pacific (APAC), and at 71% in North America. We also learn how investors are refining and developing their approach to ESG, which sustainable investment themes they view as most attractive and how views on ESG-related risks from the rapid development of artificial intelligence (AI) are evolving.