Historic buildings account for more than one-quarter of Europe’s existing building stock and are going to be crucial in the achievement of future energy targets. Although a drastic reduction in carbon emissions would slow climate change, an alteration in the climate is already certain. Therefore, the impact of climate change on retrofitted historic buildings should be considered in terms of occupants’ comfort, heritage conservation, and energy performance. Inappropriate interventions might weaken the potential of traditional climate adaptive solutions, such as thermal mass and night cooling, leading to higher risks of overheating in a warming climate. Similarly, retrofit solutions will change the moisture dynamics of historic envelopes, which might lead to moisture damages when combined with more extreme precipitation events. This paper reviews recent literature that provides evidence of climate change’s impact on retrofitted buildings, reveals potential future risks, and thereby sheds light on new factors influencing the decision-making process in the retrofit of historic buildings.