Investors pumped more than $3bn into global renewable‑energy ETFs in April, the biggest monthly net inflow since January 2021, pushing total assets to $43bn. Morningstar data shows the surge amid a sharp rise in Brent crude, which topped $126 a barrel after the Iran conflict.

The shift reflects a pivot from climate‑driven enthusiasm to energy‑security concerns. Charles de Boissezon of Société Générale notes that the war has turned renewables into a hedge against imported fuels, while policy uncertainty in the U.S. has unexpectedly pushed capital toward clean‑energy stocks. This trend also fuels higher valuations for companies with offshore wind assets.

European firms have ridden the wave. Ørsted shares are up 37% YTD after a U.S. wind‑project halt, and Nordex has leapt 67% this year, driven by its parent Acciona’s 33% rise. Germany’s Siemens Energy, which covers wind and gas‑power gear, is up 50%.

In the United States, companies like GE Vernova and NextEra Energy have benefited as grid investment surges to meet AI data‑center demand. The current influx underscores that investors view clean‑energy growth as both a climate solution and a buffer against geopolitical shocks.