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Global Stock take Report
September 17 , 2023
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- The United Nations climate secretariat made public a ‘synthesis report’.
- The synthesis report ties into a larger exercise called the ‘global stocktake.
- It is expected to take place once in five years.
- In 2015, global countries committed in Paris to keep global temperatures from rising beyond 2 degrees Celsius by the end of the century and “as far as possible” below 1.5 degrees Celsius.
- They also agreed to periodically review, or take stock of efforts, made by individual countries in containing greenhouse gases and transitioning their fossil-fuel dependent energy systems to renewable sources.
- The report suggests that the world is not on track to achieve Paris Agreement targets.
- The NDCs of 166 countries were analysed to conclude that they were inadequate to meet Paris-agreed targets.
- Much more ambition was needed to reduce global greenhouse gas emissions by 43% by 2030.
- It is also required further by 60% in 2035 and reach net zero CO2 emissions by 2050 globally.
- 5.8-5.9 trillion USD in the pre-2030 period is required for developing countries to achieve the result.
- Also, 4 trillion USD is needed per year for clean energy technologies by 2030 to reach net zero by 2050.
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