It has been more than six years since COP 21 was held in Paris in December 2015. We’re now able to take a step back, take stock, and ask some important questions about the Paris process: How can very ambitious emissions reduction goals be met by voluntary national commitments? Do commitments translate into transformative policies? What are the most promising mechanisms, initiatives, and developments that could enable developing countries to deliver on ambitious emissions reduction targets? How does the formal regime (post-Paris process) interact with initiatives, actions and commitments from the industrial and financial sectors? How will the aftermath of the invasion of Ukraine impact international climate policy? This panel will address these questions.