{"id":17130,"date":"2023-09-14T17:09:49","date_gmt":"2023-09-14T11:39:49","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/?p=17130"},"modified":"2023-09-14T17:09:52","modified_gmt":"2023-09-14T11:39:52","slug":"global-stocktake-report","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/14-09-2023\/global-stocktake-report","title":{"rendered":"Global Stocktake Report"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Conservation of Environment<\/strong><\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">News<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ahead of the just concluded G-20 summit, the United Nations climate secretariat released a<strong> \u2018synthesis report\u2019<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">About<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The synthesis report focuses on the <strong>results of three meetings held so far to discuss progress achieved<\/strong> by countries in achieving the goals of the<strong> Paris Agreement of 2015.<\/strong><\/li>\n\n\n\n<li>It ties into a larger exercise called the <strong>\u2018global stocktake,<\/strong>\u2019 that is expected to take place <strong>once in five years.<\/strong>&nbsp;<\/li>\n\n\n\n<li>In 2015, when countries committed in Paris <strong>to keep global temperatures from rising beyond 2 degrees Celsius<\/strong> by the end of the century and <strong>\u201cas far as possible\u201d below 1.5 degrees Celsius<\/strong>.\n<ul class=\"wp-block-list\">\n<li>They also <strong>agreed to periodically review,<\/strong> or <strong>take stock of efforts made<\/strong> by individual countries in containing greenhouse gases and transitioning their fossil-fuel dependent energy systems to renewable sources.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>While countries have laid out their <strong>Nationally Determined Contributions (NDC)<\/strong>, they are expected to but not obliged to increase their ambitions every five years.\n<ul class=\"wp-block-list\">\n<li>While the<strong> latest NDC were submitted in 2020, <\/strong>a stocktake also aims to push countries to set higher targets before the next NDCs are publicised in <strong>2025<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">What does the report say?<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Report lays out <strong>17 \u2018key findings\u2019<\/strong> that overall suggests that the <strong>world is not on track to achieve Paris Agreement targets,<\/strong> though there was still a \u201crapidly narrowing\u201d window for countries to get their act together.&nbsp;<\/li>\n\n\n\n<li>It also highlighted findings of the<strong> United Nations Emissions Gap Report, <\/strong>2022, that <strong>23 billion tonnes of CO2 were required to be cut to keep emissions in line with Paris agreements,<\/strong> whereas current pledges by countries even if fully implemented would only cut 2-3 billion tonnes, <strong>leaving an emissions gap of around 20 billion tonnes.<\/strong>&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Key Findings<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Though the Paris Agreement has set goals and signalled the urgency of the climate crisis,<strong> governments need to support ways to transition their economies away from fossil fuel businesses <\/strong>and that states and communities must strengthen efforts.&nbsp;<\/li>\n\n\n\n<li>While rapid change could be \u201cdisruptive,\u201d countries should work on ensuring that the <strong>economic transition is equitable and inclusive.<\/strong>&nbsp;<\/li>\n\n\n\n<li>It stated that <strong>much more ambition was needed to reduce global greenhouse gas emissions <\/strong>by 43% by 2030 and further by 60% in 2035 and reach net zero CO2 emissions by 2050 globally.<\/li>\n\n\n\n<li><strong>Renewable energy has to be scaled up <\/strong>and all <strong>\u2018unabated fossil fuels\u2019 <\/strong>(for example, coal plants without carbon capture and storage mechanisms) were to be rapidly eliminated.<\/li>\n\n\n\n<li><strong>Deforestation and land-degradation have to be halted<\/strong> and reversed and agricultural practices critical to reducing emissions and conserving and enhancing carbon sinks have to be encouraged.&nbsp;<\/li>\n\n\n\n<li>While the world, as a whole, has committed to scale up steps to help adapt to the unfolding and future impacts of climate change, <strong>most efforts were \u201cfragmented, incremental, sector-specific and unequally distributed across regions.\u201d&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>Transparent reporting<\/strong> on adaptation could facilitate and enhance understanding, implementation and international cooperation.<\/li>\n\n\n\n<li>Averting, minimising and addressing \u2018loss and damage,\u2019 requires urgent action across climate and development policies to manage risks comprehensively and provide support to impacted communities.&nbsp;<\/li>\n\n\n\n<li>Support for adaptation and funding arrangements needed to be rapidly scaled up from expanded and innovative sources. <strong>Financial flows needed to be made consistent with climate-resilient development<\/strong> to meet urgent and increasing needs.<\/li>\n<\/ul>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Way Ahead<\/span><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This document for the <strong>first time formally recognises the massive jump in finance necessary for the world to transition<\/strong> to a renewable energy economy.\n<ul class=\"wp-block-list\">\n<li>The Declaration \u201c&#8230;noted the need for <strong>USD 5.8-5.9 trillion in the pre-2030 period required for developing countries<\/strong>&#8230;.as well as <strong>USD 4 trillion per year for clean energy technologies by 2030 <\/strong>to reach net zero by 2050.\u201d<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The report is expected to <strong>set the template for the forthcoming conference<\/strong> in November when country representatives converge <strong>in Dubai for the 28th edition of the UN climate Conference of Parties (COP)<\/strong>.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Source: <a href=\"https:\/\/epaper.thehindu.com\/ccidist-ws\/th\/th_delhi\/issues\/51765\/OPS\/G0QBOERRV.1+G4EBOG90H.1.html\" target=\"_blank\" rel=\"noopener\">TH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Syllabus: GS3\/Conservation of Environment News About What does the report say? Key Findings Way Ahead Source: TH<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-17130","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/17130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=17130"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/17130\/revisions"}],"predecessor-version":[{"id":17131,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/17130\/revisions\/17131"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=17130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=17130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=17130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}