COP21 was a historic first step for the international community to recognize and combat climate change. In addition, its considerable shortcomings have established a roadmap on how philanthropists must fund to move the world faster on the next steps of climate justice and a colder planet. The „road through Paris“ – what we need to do to take the Paris agreement to the next stage – has been defined. It is time that we follow our „Philanthropy After Paris“ path and move forward deliberately. One thing is certain: this agreement will not be enough to limit the average temperature of global warming to 2 degrees Celsius, let alone the 1.5 degrees Celsius temperature that the agreement itself considers necessary. However, for domestic policy reasons in most countries and in the current geopolitical reality, this is the best deal we have been able to reach. That is why we cannot place all our hope in such an international agreement and action must be taken at all levels at which we are all involved. One of the greatest successes of the agreement is the full recognition of the third pillar of the new climate regime, namely Loss and Damage (L-D). If mitigation does not prevent climate change and its effects are more important and irreversible, so adaptation is not an option, the consequences that many face will be classified as L-D.
A separate article of the agreement fully recognizes this aspect of reality and is dealt with permanently by the Warsaw International Mechanism (WIM). This mechanism was put in place at the end of 2013 with a deadline for the first activity report at the end of 2016. Depending on how L-D would feed the Paris agreement, the future of WIM was uncertain. Today, it is fully anchored in the agreement as a permanent body to develop solutions over the next few years. Several rich countries have expressed their readiness to contribute to the expansion of risk insurance, but it is preferable for most measures to prevent D.D.A. This requires non-financial responses to non-economic losses, such as the loss of land or even disappearing nations, and for people to remain landless and stateless. The Paris Agreement brings a great historical change. This is due to its universality, which applies to all nations. This is also due to the fact that the agreement clearly shows all concerned that the world is moving towards a paradigm that integrates the reality of the fight against climate change. This is already reflected on the stock markets – in the days following the adoption of this agreement, stock market movements have already shown a shift from fossil fuels to renewable energy.