The phrase in the current climate refers to the immediate presence or the most recent up-to-date time. A climate can refer to a political or social climate or an economic climate meaning the general development of a situation or opinions at a particular time.

1. Houses are not affordable for many in the current economic climate. The recession has left the country in a sorry state of affairs.
2. It is difficult to pass laws in the current political climate. There is too much of a dichotomy between the two leading political parties.

1. In the current economic climate, it is unwise to invest in air travel the market is close to collapse.
2. Our marketing efforts have to match the liberal views our customers have in the current climate.