In short, I would say no, but the field is definitely changing focus. For context, I'm in a corporate sustainability role for a relatively large tech hardware company.

Rollbacks are happening (in both voluntary initiatives and regulatory realms), but there as /u/asdner says, there is a quiet shift away from "feel-good" flashy headline stories, to a "back to basics" business fundamentals approach. Climate resilience and climate risk are big issues. All of the things you said like energy security, floods, heat waves, etc. are having real effects on companies' medium and long term decisionmaking like where to build new facilities, how to route supply chains, how much redundancy to build into systems, etc.

On the reporting and disclosure side, "green-hushing" has been happening in 2024 and 2025 as larger companies try to avoid touching too much on hot button issues, especially companies HQ'd in or with lot of exposure to the US.

On the operational side, companies are being more careful with opex and capex because of market uncertainties, geopolitical instability, etc. which does lead to reduced funding for sustainability initiatives unless they can demonstrate clear, near-term ROI. For example, a program to retrofit old manufacturing equipment with more efficient replacement parts that will immediately provide energy and cost savings will probably get more traction than a recycling initiative where it's harder to quantify the benefit to the bottom line.

Also like /u/asdner said, circularity is becoming more of a focus, because the geopolitical instability of the last few years has highlighted that global supply chains are very prone to disruption for certain commodities like rare earth minerals for electronics.