A United Nations report suggests that global emissions by 2023 are expected to dip by just 2% below the 2019 levels, as compared to a 43% reduction needed to protect the world from worst impacts of climate change.
This is required to limit temperature rise to 1.5 degrees Celsius by the end of this century. “The conditional elements of the NDCs need to be implemented, which depends mostly on access to enhanced financial resources, technology transfer and technical cooperation, and capacity-building support as well as the availability of market-based mechanisms.” COP28 President Designate Sultan Al Jaber said.
The Global Stocktake is a two-year UN review process to evaluate collective global progress in meeting the Paris Agreement’s goals. Initiated in Glasgow in 2021, the first-ever GST will conclude at the annual climate talks in Dubai in December.
The stocktake is intended to inform the next round of climate action plans under the Paris Agreement (known as NDCs) to be put forward by 2025, paving the way for accelerated action.