Understanding the Significance of Global Stocktake at COP28

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Understanding the Significance of Global Stocktake at COP28
04 Dec 2023
5 min read

News Synopsis

The 28th Conference of the Parties (COP28), taking place in Dubai, marks a pivotal moment in the global fight against climate change. Representatives from nearly 200 countries, along with business leaders, climate scientists, Indigenous Peoples, journalists, and other experts, have convened to assess progress made in curbing global warming since the landmark Paris Agreement of 2015.

At the heart of COP28 lies the Global Stocktake, a comprehensive evaluation of collective efforts to address the climate crisis. This is the first time such a comprehensive assessment has been undertaken, providing a crucial opportunity to identify gaps, acknowledge successes, and chart a better course for the future.

Why Global Stocktake Matters:

This comprehensive evaluation serves as a pivotal yardstick to gauge nations' advancements in addressing climate change. It facilitates introspection, determining whether current efforts align with the Paris Agreement's objectives or necessitate heightened actions, whether through stringent policies, ambitious targets, or financial support for transitioning to sustainable energy in developing nations.

UN's Perspective on Global Stocktake:

According to the United Nations Climate Change (UNCC), the Global Stocktake represents an opportunity for a thorough review of our planet's state, aiming to chart a more sustainable trajectory for the future. This initiative is integral in realizing the accord's commitments and fostering global climate resilience.

Historical Context:

The genesis of this comprehensive approach can be traced back to COP21 in Paris, a landmark assembly where nations collectively rallied against the climate crisis. Unlike the earlier Kyoto Protocol, COP21's hallmark was inclusivity, involving all countries in the quest to combat climate change by mandating emission reduction targets—termed Nationally Determined Contributions (NDCs).

Paris Agreement's Objectives:

The Paris Agreement underscores the imperative for all countries to commit to emission reduction targets and adapt to climate change's impacts. These commitments, encapsulated in NDCs, set the stage for periodic assessments, commencing in 2023 and recurring every five years, aimed at assessing progress and recalibrating efforts.

The Inaugural Global Stocktake Findings:

The UN's technical report on the inaugural Global Stocktake, released in September 2023, unveiled a mixed picture. It acknowledged global strides toward climate action but emphasized the insufficiency of these efforts. The report underscored the urgent need for accelerated action across various fronts to align with the Paris Agreement's goals.

Current Climate Scenario:

Simultaneously, the global temperature surge has been evident, with temperatures soaring by nearly 1.2 degrees Celsius since the pre-industrial era, underscoring the pressing need for proactive and concerted efforts to curb further escalation.

Relevant and Latest Facts about COP28:

  • COP28 is taking place in Dubai, United Arab Emirates, from November 30 to December 12, 2023.

  • The Global Stocktake is a comprehensive assessment of progress made by all countries under the Paris Agreement.

  • The initial Global Stocktake report found that while some progress has been made, it is still not enough to meet the Paris Agreement goals.

  • The average global temperature has increased by almost 1.2 degrees Celsius since pre-industrial times.

  • COP28 is expected to result in a new set of commitments from countries to reduce greenhouse gas emissions and adapt to the impacts of climate change.

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