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Within the framework of the Caisse des Dépôts blog series dedicated to the transformations of sustainable finance, this article reflects on the key lessons drawn from the tenth anniversary of the Paris Agreement, held on 12 December 2025 by the Fondation PARC (Paris Agreement Research Commons) of the Institut Louis Bachelier.
Through the contributions of political, economic, and academic stakeholders, Quitterie Lasserre and Nestor Toroman offer an analysis of the past ten years of climate transition and the possible trajectories towards 2035.
Since the signing of the Paris Agreement in 2015, global climate dynamics have been shaped by increasing engagement from both public and private actors. While commitments have helped improve projected warming pathways compared to the most pessimistic scenarios, efforts remain insufficient to achieve net-zero emissions objectives.
The analysis highlights the structuring role of sectoral coalitions, companies, and territories in accelerating the transition, as well as the gradual rise of sustainable finance in steering capital flows towards low-carbon models. Despite significant progress, full alignment of the financial system with the objectives of the Paris Agreement remains a major challenge.
The discussions also explored the emergence of new economic models — including the sharing economy, circularity, and advanced eco-design — as well as forward-looking scenarios for 2035, in which the climate transition relies as much on economic change as on cultural and social transformations.
Finally, this reflection underscores the need to strengthen coordination between public, private, and civil society actors in order to accelerate a transition that is now underway but still incomplete.
👉 Read the full article on the Caisse des Dépôts blog in the series: https://www.caissedesdepots.fr/eclairage/blog/articles/finance-durable-10-ans-apres-que-faut-il-retenir-et-attendre-de-laccord-de-paris
