“Most investors are starting to realize that the federal government is limited in its impact and the risk to (green energy subsidies) is relatively low,” Mike Garland, Chief Executive of wind farm owner Pattern Energy Group Inc, told Reuters.

Moreover, the U.S. is only a small part of the global push toward green or socially responsible investments. Even without the U.S., many other countries have already adopted policies in favor of renewables, and a global green bond position could play a role in financing the continued transition.

“The U.S. has thus far had a relatively small presence in the global green bonds market,” Sokol said. “Europe, and more recently China and other emerging markets, have played a much greater role in the development of the market in terms of formulating policies that support market growth. Even though the U.S. has ceded its position on the issue of climate change, other countries will likely continue to make progress on renewables, electric vehicles, etc., providing a strong project pipeline for green bonds.”

Taking the initiative, Corporate America has already pushed into green investments with little support from the federal government. For instance, corporate issuers like Apple (NasdaqGS: AAPL) have issued green bonds both to tout their environmental stewardship and in response to investment demand, Sokol said.

For more information on green investments, visit our socially responsible ETFs category.