Global Stocktake draft calls for phasing out fossil fuels
For the first time, a crucial agreement being negotiated at the UN’s annual climate summit has emphasized the need for the world to phase out all fossil fuels in its draft wording. As the first week of COP-28 negotiations comes to a close, the most recent version of the Global Stocktake (GST) includes a paragraph pledging all signatories to “an orderly and just phase out of fossil fuels.”
Overview of COP 28
- The 28th United Nations Climate Change Conference is known as COP28. It will take place in Dubai, United Arab Emirates, from November 30 to December 12, 2023.
- The 28th Conference of the Parties to the United Nations Framework Convention on Climate Change is abbreviated as COP28. The fifth meeting of the COP will also serve as the Meeting of the Parties to the Paris Agreement (CMA 5).
- The conference will gather countries from all over the world together to:
- Increase your ambition.
- Implement current objectives
- Increase commitments
- A Global stocktake will also be held at the meeting to assess progress toward the Paris Agreement’s aim of limiting global warming to 1.5 degrees Celsius.
What is the Global Stocktake?
- The Global Stocktake (GST) is an assessment of the world’s climate action progress.
- It is based on the Paris Agreement’s Article 14.
- The GST’s mission is to assist countries and stakeholders in determining where they stand in relation to the Paris Agreement’s goals.
- The GST also aids in the identification of gaps and possibilities for achieving the Paris Agreement.
What were the clauses discussed in the Global Stocktake?
- Fossil Fuel Phase-Out: A clause in the GST draft commits all signatories to an “orderly and just phase-out of fossil fuels.” This is a huge step forward because it expands on prior discussions that were primarily focused on lowering coal usage.
- Targets for Renewable Energy and Energy Efficiency: The draft language includes a section that calls for a triple of worldwide renewable energy capacity by 2030 compared to 2022, reaching 11,000 GW. It also seeks to double the worldwide average annual rate of energy efficiency improvement from 2022 to 4.1 per cent by 2030.
- Assessment of Paris Agreement Goals: The GST is expected to review progress toward the Paris Agreement’s goals, which include preventing temperature increases from exceeding 2 degrees Celsius and, ideally, limiting them to 1.5 degrees Celsius.
- Countries’ Options: The draft consists of 193 individual points split across 24 pages, with several laying out ‘options’ that countries can agree to adopt, reject, or avoid mentioning in the final agreement. These selections may encompass a wide range of climate goals and solutions.
Why is the GST important in the aspects of the Environment?
- Progress Assessment: The GST acts as a tool for assessing countries’ progress in fulfilling their climate change pledges under international agreements such as the Paris Agreement. It enables the global community to assess whether collective efforts are on track to meet the agreed-upon climate targets.
- Goals of the Paris Agreement: The GST assesses progress toward the Paris Agreement’s goals, which include holding global temperature increases to well below 2 degrees Celsius above pre-industrial levels and pursuing efforts to restrict temperature increases to 1.5 degrees Celsius. This evaluation is critical for comprehending the efficacy of global climate mitigation and adaptation initiatives.
- Future Action Guidance: The GST provides governments with guidance in upgrading their promises to reduce greenhouse gas emissions. It assists in identifying areas where more aggressive steps are required and encourages governments to increase their contributions to the global climate effort.
- Accountability and transparency: Countries are held accountable for their climate activities through the GST. The stocktake process examines and evaluates each country’s efforts, fostering transparency and accountability in the global response to climate change.
- Adaptation and Resilience: The GST examines progress in adaptation and resilience measures in addition to carbon reduction. This is critical for tackling the current effects of climate change and ensuring that communities are prepared for future difficulties.
In the global fight against climate change, there is a considerable shift in emphasis toward a complete phase-out of fossil fuels and an increased emphasis on renewable energy and energy efficiency standards.