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United Nations’ Global Stocktake Report

 

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:

TakeawaysDetails
Positive takeaways
Paris Agreement’s Impact:The Paris Agreement has encouraged widespread climate action worldwide.
Temperature Projection ImprovementGlobal 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 LimitsDespite 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 ActionThere 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 MitigationInclusive and equitable system transformation for transitioning from fossil fuel-based energy systems to renewable energy sources like solar and wind
AdaptationIntegrate climate change risks into all aspects of planning and implementation. Ensure transparent reporting on adaptation efforts.

 

Finance FlowsEnhance access to climate finance in developing countries.

 

 

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.