The world is grossly off track in meeting the Paris goal of keeping global warming below 1.5°C from pre-industrial levels this century. This is why the race to “net zero” should further heat up, with countries and regions taking other actions on their carbon-free targets for 2050 or 2060. As a certain degree of warming will be inevitable, there is a greater need for adapting to a changing climate. Will the international community succeed in accelerating the green transition? How to finance mitigation and adaptation actions?