Source: TH
Context: The United Nations’ Global Stocktake report was released just ahead of the G-20 meeting.
About the report:
The United Nations’ Global Stocktake report serves as a blueprint for discussions during the Conference of Parties and aims to assess countries’ progress in curbing greenhouse gas emissions since 2015.
Key takeaways from the report:
| Takeaways | Details |
| Positive takeaways | |
| Paris Agreement’s Impact: | The Paris Agreement has encouraged widespread climate action worldwide. |
| Temperature Projection Improvement | Global temperature rise is now expected to be between 2.4-2.6°C, a significant improvement from the earlier projection of 3.7-4.8°C in 2010. |
| Negative Takeaways | |
| Emission Rate Exceeds Limits | Despite some progress, global emissions are to exceed the limits set in the Paris Agreement |
| Ambitious Action Needed | Achieving net-zero CO2 emissions requires an 84% reduction in global greenhouse gas (GHG) emissions below 2019 levels by 2050 |
| Deficits in Climate Action | There are shortfalls in various aspects of climate action, including mitigation, adaptation, and finance, indicating the need for more comprehensive efforts. |
| Key recommendations of the Report | |
| On Mitigation | Inclusive and equitable system transformation for transitioning from fossil fuel-based energy systems to renewable energy sources like solar and wind |
| Adaptation | Integrate climate change risks into all aspects of planning and implementation. Ensure transparent reporting on adaptation efforts.
|
| Finance Flows | Enhance access to climate finance in developing countries.
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About the Paris Agreement:
It is a legally binding international treaty on climate change that was adopted by 196 countries. Its primary goal is to limit the increase in the global average temperature to well below 2°C above pre-industrial levels. It includes a mechanism known as the Global Stocktake (GST), which aims to assess the global response to the climate crisis every five years.
