COP28: What is Global Stocktake — and why is it important?

The results will determine what actions must be taken in future, in terms of making more stringent national policies, setting more ambitious goals or financially enabling poorer countries to transition to clean, green energy. In the words of the United Nations Climate Change (UNCC), “It’s a moment to take a long, hard look at the state of our planet and chart a better course for the future”.

Five-year plan

In 2015, Paris hosted COP21, a landmark event because it was the first time that all countries came together to fight the climate crisis. Before Paris, there was the Kyoto Protocol of 2005 which involved only developed countries in cutting down greenhouse gas emissions and left out India and China, among other developing nations.

The Paris Agreement made it mandatory for all countries to set emissions-reduction targets and adapt to the impacts of climate change. This is known as Nationally Determined Contributions (NDCs).

It was decided that countries would assess their progress for the first time in 2023 and, then, every five years. The Paris Agreement aims to keep global warming from rising more than 2 degree Celsius from the pre-industrial era — mid-1800s —and to try to keep it under 1.5 degree Celsius, the point till which the planet might still withstand severe climate change impact.

Initial report

The result of the first Global Stocktake is no secret. The UN published a technical report on the first Global Stocktake in September 2023, according to which the global community spurred to action and made some progress but it was still too little. The UN found that “implementation must accelerate to increase ambition across all fronts, taking an all-of-society approach to make progress towards the Paris Agreement goals and respond to the climate crisis”.

“Across the topics, the report makes clear that there is progress, but much more needs to be done. While there are well-known gaps, the technical findings highlighted existing and emerging opportunities and creative solutions to bridge these gaps. Good practices and proposals to accelerate implementation, action and support, are highlighted in all areas,” says a statement from the UNCC. Meanwhile, the average global temperature has increased by almost 1.2 degree Celsius since pre-industrial times.