GLOBAL
STOCKTAKE REPORT - REPORT & INDICES
News:
Explained | Analysing the
Global Stocktake Report
What's
in the news?
●
Ahead of the just concluded G-20 summit,
that saw several world leaders converge in New Delhi, the United Nations climate
secretariat made public a ‘synthesis report’ on the results of three meetings
held so far to discuss progress achieved by countries in achieving the goals of
the Paris Agreement of 2015.
Key
takeaways:
●
The United
Nations Global Stocktake report was released just ahead of the G-20
meeting.
Global
Stocktake Report:
●
The Global Stocktake Report is mentioned
under Article 14(1) of the Paris
Agreement.
●
This report is designed to ‘take stock’ of the implementation of the
Paris Agreement and assess collective progress towards achieving the
Agreement’s goal.
●
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
findings:
●
194 Parties (193 States plus the European
Union) have joined this legally binding Paris Agreement and have submitted
their Nationally Determined Contributions (NDCs).
●
Global temperature rise is now expected to
be between 2.4-2.6°C which is a
significant improvement from the earlier projection of 3.7-4.8°C
●
Goals
- Current NDCs pledged by countries even if fully implemented would only cut
2-3 billion tonnes of CO2. While 23 billion tonnes of CO2 are required to be
cut
●
Global
greenhouse gas emissions need to be reduced by 43% by 2030 and
further by 60% in 2035 and reach net zero CO2 emissions by 2050 globally. However
the present emissions are far higher than the required levels.
●
Shortfalls
in various aspects of climate action.
Recommendations:
●
Enhance access to Climate Finance.
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Enhance Carbon Sinks.
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Eliminate all unabated fossil fuel.