About Global Stocktake:
- It refers to a proposed five-year review of the impact of countries’ climate change actions.
- Under the Paris Agreement, every country must present a climate action plan in five-year cycles.
- The first global stocktake was scheduled for 2023 under the Paris Agreement.
- It will assess whether the net result of the climate actions being taken was consistent with the goal of keeping the increase in global average temperature from pre-industrial times to within 2 degrees Celsius.
- It will help the world determine whether it needs to do more — and how much more.
- It also recognises that money needs to be made available for Loss and Damage and energy transition in developing countries.
Key highlights of the report
- The global emissions are not in line with modelled global mitigation pathways consistent with the temperature goal of the Paris Agreement.
- There is a rapidly narrowing window to raise ambition and implement existing commitments in order to limit warming to 1.5°C.
- It is the most comprehensive assessment of global action on climate change to date, based on technical/scientific data and consultation with government experts, business leaders, and civil society in the past two years.
