UN Global Stocktake Report

Facts for Prelims

UN Global Stocktake Report

News: The United Nations’ Global Stocktake report was released just ahead of the G-20 meeting.

About:
• 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 Findings:
• The Paris Agreement has encouraged widespread climate action worldwide.
• 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.
• Despite some progress, global emissions are to exceed the limits set in the Paris Agreement.
• Achieving net-zero CO2 emissions requires an 84% reduction in global greenhouse gas (GHG) emissions below 2019 levels by 2050.

Key Recommendaitons:
• Inclusive and equitable system transformation for transitioning from fossil fuel-based energy systems to renewable energy sources like solar and wind
• Integrate climate change risks into all aspects of planning and implementation. Ensure transparent reporting on adaptation efforts
• Enhance access to climate finance in developing countries About Paris Agreement:
• It is a legally binding international treaty on climate change that was adopted by 196 countries whose primary goal is to limit the increase in the global average temperature to well below 2°C above preindustrial 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.