The Global Stocktake Report 

16 Sep The Global Stocktake Report 

This article covers “Daily Current Affairs” and the topic details “The Global Stocktake Report”. This topic has relevance in the “Environment and Ecology” section of the UPSC CSE exam.

For Prelims:

What is Global Stocktake? 

Who publishes it? 

For Mains:

GS3:  Environment and Ecology

Why in the news?

In the lead-up to the recent G-20 summit, the UN climate secretariat published a comprehensive analysis of climate action commitments.

Global Stocktake Report 

• The ‘Global Stocktake’ report is a periodic assessment of countries’ efforts to achieve the goals of the 2015 Paris Agreement, which aims to limit global temperature rise to below 2 degrees Celsius and preferably below 1.5 degrees Celsius by the end of the century. 
• It is named so because it reviews and evaluates the progress made by individual countries in reducing greenhouse gas emissions and transitioning to renewable energy sources.
• Purpose: 
  • The primary purpose of the ‘Global Stocktake’ report is to periodically assess and take stock of the efforts made by countries to combat climate change. 
  • This assessment occurs every five years to track progress towards the Paris Agreement’s objectives.
• Influence on Climate Discussions: 
  • The findings of the ‘Global Stocktake’ report hold significant importance in international climate discussions. 
  • It shapes discussions and decisions during events like the UN Climate Conference of Parties (COP). 
  • This report influences countries to consider increasing their ambitions in reducing greenhouse gas emissions and adopting more sustainable energy systems.
• Connection to Nationally Determined Contributions (NDCs): 
  • While countries have already submitted their Nationally Determined Contributions (NDCs) outlining their climate action plans, the ‘Global Stocktake’ encourages them to reassess and potentially enhance their commitments before the next set of NDCs are published in 2025.

About the Report

• The report, spanning 45 pages, presents 17 crucial findings that convey that the world is not making sufficient progress to achieve the targets outlined in the Paris Agreement. 
• However, it underscores a rapidly closing opportunity for nations to take coordinated action. The synthesis report does not represent a significant departure from the UN Synthesis Report 2022, published ahead of COP 27 in Egypt. 
• This prior report analysed the Nationally Determined Contributions (NDCs) of 166 countries and concluded that they fell short of meeting the objectives set by the Paris Agreement.

Key Findings:

• Paris Agreement Progress: The report highlights that overall global progress toward achieving the Paris Agreement targets is currently inadequate.
• Narrowing Window of Opportunity: It emphasises that while progress is lacking, there is still a rapidly diminishing timeframe within which countries can align their actions with the Paris Agreement.
• Ambitious Emissions Reduction: Significantly greater ambition is necessary to reduce global greenhouse gas emissions by 43% by 2030 and 60% by 2035, ultimately achieving global net-zero CO2 emissions by 2050.

• Need to Scale Up Renewable Energy: To meet climate goals, there is a need to expand renewable energy sources while swiftly phasing out ‘unabated fossil fuels,’ such as coal plants without carbon capture and storage mechanisms.

• Combatting Deforestation and Land Degradation: Efforts must be made to stop and reverse deforestation and land degradation, while also promoting agricultural practices that play a critical role in reducing emissions and enhancing carbon storage.

• Addressing ‘Loss and Damage’: Urgent action across climate and development policies is required to comprehensively manage the risks associated with ‘loss and damage’ from climate change and support affected communities.

Impact of the Global Stocktake Report:

• The report had a notable resonance in the G20 Leaders Declaration. 
• The G20 Leaders Declaration recognises the substantial financial requirements for transitioning to a renewable energy economy.
• The Declaration acknowledges the need for USD 5.8-5.9 trillion in the pre-2030 period for developing countries. It also emphasises the requirement of USD 4 trillion per year for clean energy technologies by 2030 to achieve net-zero emissions by 2050.

Sources: Analysing the Global Stocktake Report – The Hindu

Download plutus ias current affairs eng med 16th Sep 2023

Q1. With reference to the Global Stocktake report, consider the following statements: 

1. The ‘Global Stocktake’ report evaluates countries’ efforts to achieve the goals of the 2015 Paris Agreement, which aims to limit global temperature rise to below 2 degrees Celsius.
2. The report directly determines the specific greenhouse gas reduction targets for individual countries.
3. The report’s findings significantly influence international climate discussions and decisions during events like the UN Climate Conference of Parties (COP).

Which of the statements given above is/are correct?

(a) 1 and 2 only

(b) 2 and 3 only

(c) 3 only 

(d) 1 and 3 only 

Check Answer

Q2. Consider the following statements: 

1. The ‘Global Stocktake’ report directly determines the specific greenhouse gas reduction targets for individual countries.
2. The report highlights that overall global progress toward achieving the Paris Agreement targets is inadequate.
3. The ‘Global Stocktake’ report was published by the United Nations Security Council. 

How many of the abovementioned statements are correct?

(a) Only one 

(b) Only two 

(c) All three 

(d) None

Check Answer

Q3. Analyse the findings of the recent ‘Global Stocktake’ report published by the UN climate secretariat. Discuss its impact on international climate discussions.

Gaurav N