Global Stocktake

Global Stocktake is a process established under the Paris Agreement, aiming to assess the collective progress of countries towards achieving the agreement's goals, including limiting global warming to well below 2 degrees Celsius and pursuing efforts to limit it to 1.5 degrees Celsius. This process involves the International Renewable Energy Agency, World Health Organization, and World Meteorological Organization, among others. The Global Stocktake is informed by the Intergovernmental Panel on Climate Change and the United Nations Environment Programme, which provide scientific guidance and support. The European Commission, National Oceanic and Atmospheric Administration, and Australian Government also contribute to the process.

Introduction to Global Stocktake

The Global Stocktake was introduced at the 21st Conference of the Parties in Paris, where countries agreed to conduct a global stocktake every five years, starting in 2023. This process is facilitated by the United Nations Framework Convention on Climate Change and involves the participation of countries such as Canada, Brazil, South Africa, and Indonesia. The Global Stocktake is also supported by organizations like the World Bank, International Monetary Fund, and Asian Development Bank. The European Investment Bank and African Development Bank provide financial support for the implementation of the Paris Agreement. The Global Stocktake is closely linked to the Sustainable Development Goals, particularly SDG 13 on climate action, and is informed by the Sendai Framework for Disaster Risk Reduction.

Purpose and Objectives

The primary purpose of the Global Stocktake is to assess the collective progress of countries towards achieving the Paris Agreement's goals, including the 1.5 degrees Celsius target. The process aims to identify areas where countries need to increase their ambition and take more action to reduce greenhouse gas emissions. The Global Stocktake also seeks to promote international cooperation and climate finance, with the support of institutions like the Green Climate Fund and the Climate Investment Funds. The Global Stocktake is informed by the United Nations Development Programme and the Food and Agriculture Organization of the United Nations. The process involves the participation of experts from organizations like the International Union for Conservation of Nature and the World Wildlife Fund.

Process and Methodology

The Global Stocktake process involves several steps, including the submission of nationally determined contributions by countries, which outline their emission reduction targets and adaptation plans. The Intergovernmental Panel on Climate Change provides scientific guidance and support for the process, while the United Nations Environment Programme and the World Meteorological Organization provide technical assistance. The Global Stocktake also involves the participation of non-state actors, including civil society organizations like the World Resources Institute and the Climate Action Network. The process is facilitated by the United Nations Framework Convention on Climate Change and involves the use of tools like the Climate Change Performance Index and the Greenhouse Gas Protocol.

Implementation and Review

The implementation of the Global Stocktake is facilitated by the United Nations Framework Convention on Climate Change and involves the participation of countries and organizations like the European Union, International Energy Agency, and World Health Organization. The process is reviewed every five years, with the first review taking place in 2023. The review involves the assessment of the collective progress of countries towards achieving the Paris Agreement's goals, as well as the identification of areas where countries need to increase their ambition and take more action. The Global Stocktake is also informed by the Sustainable Development Goals and the Sendai Framework for Disaster Risk Reduction. The process involves the participation of experts from organizations like the International Institute for Environment and Development and the Stockholm Environment Institute.

Outcomes and Impacts

The Global Stocktake is expected to have several outcomes and impacts, including the increased ambition of countries to reduce greenhouse gas emissions and the promotion of international cooperation and climate finance. The process is also expected to inform the development of policies and programs aimed at reducing emission and promoting sustainable development, with the support of institutions like the World Bank and the Asian Development Bank. The Global Stocktake will also contribute to the achievement of the Sustainable Development Goals, particularly SDG 13 on climate action. The process involves the participation of organizations like the United Nations Children's Fund and the United Nations High Commissioner for Refugees, which provide support for vulnerable communities affected by climate change. The Global Stocktake is closely linked to the United Nations Convention to Combat Desertification and the Convention on Biological Diversity.

Category:International agreements