The new international agreement will replace in 2020 the Kyoto Protocol and outline the major directions for countries’ cooperation on adaptation and reduction of greenhouse gas emissions. However, from the viewpoint of the most vulnerable countries, public organizations, and even some business people, so far the Agreement gives no guarantees of slowdown of climate changes, nor it resolves issues of assistance to countries which are suffering from climatic outcomes the most. For Russia, the new Agreement might become a catalyst for modernization of its economy if mechanisms of priority support to energy efficiency and the green energy will work.