In a series of impactful events at the UN Climate Change Conference (COP28), momentum has surged toward the conclusion of the world’s inaugural global stocktake. This critical assessment aims to elevate ambition and hasten climate action, providing key insights for the formulation of upcoming climate action plans in 2025.
During the conference’s initial week, global leaders convened for roundtable discussions to share perspectives and expectations regarding the global stocktake’s outcomes. A significant lineup, including 29 Heads of State and Government, 21 ministers, 10 high-level officials, three United Nations organizations, and eight non-governmental organizations, contributed to these insightful discussions.
Governments are poised to make a pivotal decision on the global stocktake at COP28, presenting an opportunity to amplify ambition and drive action within this decade.
Harry Vreuls, Chair of the Subsidiary Body for Scientific and Technological Advice, emphasized the high-level events as a platform for leaders to recommend strategies for bolstering action and support, underscoring the urgency amid worsening global climate change impacts.
The global stocktake serves as a comprehensive process for nations and stakeholders to collectively evaluate progress toward fulfilling the objectives of the Paris Climate Change Agreement and identify areas that require attention.
The scientific consensus from the UN’s Intergovernmental Panel on Climate Change (IPCC) underscores the imperative to peak greenhouse gas emissions before 2025, with a subsequent 43% reduction by 2030 to limit global warming to 1.5°C. Surpassing this threshold poses severe risks of intensified climate change impacts.
September’s technical report on the global stocktake further emphasized the pressing nature of the climate crisis and urged swift action.
COP28 featured three high-level global stocktake events focusing on mitigation, adaptation, and means of implementation. The discussions underscored the urgency for heightened ambition and widespread climate action.
Key Highlights from the Global Stocktake High-Level Committee’s Summary:
Mitigation:
- Urgent need for pathways towards deep, rapid, and sustained global greenhouse gas emission reductions in line with scientific recommendations.
- Emphasis on global greenhouse emissions peaking as soon as possible and accelerating efforts toward achieving net zero by mid-century.
Adaptation:
- Recognition of significant adaptation gaps and financial disparities, with a call to urgently strengthen adaptation actions and enhance the capacity of vulnerable developing countries.
- Acknowledgment of developing countries’ efforts in building resilience and reducing vulnerability, particularly through natural ecosystems and ecosystem-based solutions.
Means of Implementation:
- Acknowledgment of increased global climate finance flows since the Paris Agreement but underscored the inadequacy of finance and means of implementation.
- Recognition of the critical role of capacity building, technology development, and transfer, with an emphasis on innovation.
Leaders stressed the urgency for scaling up support for adaptation, loss and damage, and welcomed pledges to new funding arrangements. The need for increased momentum on finance, anticipated from COP28 and the global stocktake outcome, is poised to signal a collective commitment to the world.
