Canadian companies with strong climate-related disclosures saw portfolio holdings by non-U.S. foreign institutional investors rise by 24.6% compared to non-disclosing firms following the market disruption caused by U.S. President Trump’s sweeping “Liberation Day” tariff announcement last year. Almost all of the difference was accounted for by investors in climate-conscious European jurisdictions. These findings are presented in a new discussion paper from the Institute for Sustainable Finance (ISF).