Central Idea

• Amid the gathering of world leaders in New Delhi for the G-20 summit, the UN climate secretariat unveiled a ‘synthesis report’ summarizing progress made by nations towards the goals of the 2015 Paris Agreement.
• Known as the ‘global stocktake,’ this report is a vital component of global climate action, assessing efforts to combat climate change every five years.

Understanding the ‘Global Stocktake’

(1) Origins and Purpose:

• The ‘global stocktake’ is integral to the Paris Agreement, which commits countries to limit global warming to below 2 degrees Celsius and strive for a 1.5-degree target.
• Its primary aim is to periodically review and evaluate individual nations’ efforts in reducing greenhouse gas emissions and transitioning to renewable energy sources.

(2) Influence on Climate Talks:

• The inaugural report, released this year, carries significant weight, shaping discussions at the upcoming 28th UN Climate Conference of Parties (COP) in Dubai in November.
• While countries have submitted their Nationally Determined Contributions (NDCs) for climate action, the stocktake encourages them to enhance their ambitions before the next NDCs in 2025.

Key Insights from the Report

(1) Overall Assessment:

• The 45-page synthesis report delivers 17 key findings that collectively convey that the world is falling short of its Paris Agreement targets. However, it highlights a narrowing window of opportunity for countries to align their efforts.

(2) Echoing Previous Concerns:

• The report echoes concerns raised in the 2022 UN synthesis report, which analyzed the NDCs of 166 countries and found them inadequate to meet Paris Agreement goals.
• It reiterates the findings of the United Nations Emissions Gap Report, emphasizing the vast shortfall in reducing CO2 emissions compared to the Paris targets.

Crucial ‘Key Findings’

(1) Galvanized Global Response:

• The Paris Agreement has spurred countries to set climate goals and acknowledge the urgency of addressing the climate crisis.
• Governments must support the transition away from fossil fuels, ensuring it is equitable and inclusive.

(2) Ambitious Goals:

• Much greater ambition is needed to achieve global greenhouse gas emission reductions of 43% by 2030 and 60% by 2035, leading to net-zero CO2 emissions by 2050.

(3) Renewable Energy Transition:

• Scaling up renewable energy is imperative, while unabated fossil fuels must be phased out rapidly.

(4) Environmental Conservation:

• Efforts to halt deforestation, reverse land degradation, and promote emission-reducing agricultural practices must be encouraged.

(5) Adaptation and Loss Management:

• Comprehensive risk management and support for impacted communities are essential for averting, minimizing, and addressing loss and damage due to climate change.

(6) Financial Commitment:

• Transparent adaptation reporting and the rapid scaling up of financial support are needed to align global financial flows with climate-resilient development.

Influence on Global Climate Discussion

• The global stocktake report serves as a foundational document for the upcoming UN Climate Conference of Parties (COP).
• It notably influenced the G20 Leaders Declaration, which officially acknowledged the substantial financial requirements for transitioning to a renewable energy economy.
• This acknowledgement sets the stage for intensified efforts, emphasizing the need for trillions of dollars to support climate action, renewable technologies, and the path to net-zero emissions by 2050.

Get an IAS/IPS ranker as your 1: 1 personal mentor for UPSC 2024

Attend Now