The inaugural Global Stocktake, unveiled in October 2023, has revealed that the world is falling short in its pursuit of the objectives outlined in the 2015 Paris Agreement. Including :

1. Insufficient Progress Towards Paris Goals: The report states that current global actions are inadequate to achieve the Paris Agreement 2015 objectives. The world is  off track in its mission to limit global warming to well below 2 degrees Celsius above pre-industrial levels.
2. Urgent Need for Enhanced Ambition: It underscores the immediate necessity for nations to ramp up their climate ambitions. This includes more aggressive emission reduction targets and concrete actions to transition to cleaner energy sources through the Nationally Determined Contributions or NDCs)
3. Energy Transition is Vital: The report highlights the central role of the energy sector in reaching net-zero emissions. It calls for the establishment of precise and ambitious targets within this sector, covering renewables, coal, hydrogen, oil, and gas.
4. Financial Support for Vulnerable Nations: Recognizing the financial constraints that hinder climate action in vulnerable countries, the report advocates for the creation of scalable financing mechanisms to support adaptation efforts, especially in regions most at risk from climate change impacts.
5. Private Sector Engagement: The report emphasizes the importance of involving the private sector in climate action. This includes initiatives related to financing, enhancing accountability, building capacity, and adopting climate-friendly technologies. Encouraging private sector engagement is seen as a key driver of transformative climate action.

During COP28, member states of the United Nations will engage in discussions to determine their course of action in response to the stocktake’s revelations.  We  expects the below actions:

1. Precise objectives are established for various technology of the energy sector, such as renewables, coal, hydrogen, oil, and gas, among others. The stocktake emphasizes the pivotal role of the energy transition in attaining net zero emissions and suggests the formulation of concrete targets within this sector.
2. Robust financial mechanisms are put in place to bolster adaptation efforts, particularly for nations most vulnerable to climate impacts. UN member states acknowledge the existing gaps in action and implementation, primarily attributable to financial limitations.
3. Strategies for engaging the private sector in climate initiatives are developed, encompassing aspects like financing, accountability, capacity enhancement, and technology adoption. This involves creating pathways to encourage corporate involvement in climate action.

1. Unlock more ambitious and swifter national commitments and initiatives, with a particular emphasis on revamping energy infrastructure, engaging high-emission sectors, mitigating methane emissions due to its substantial short-term impact, and implementing robust government green procurement policies.
2. Create a level playing field for decarbonization by employing mechanisms such as carbon pricing, emissions trading systems, and carbon border adjustments.
3. Strengthen governmental efforts to remove roadblocks hindering the transition. Expedite permitting processes, develop essential infrastructure and supply chains, facilitate investments to reduce risks associated with accessing raw materials, and enhance workforce skills, with a specific focus on reskilling individuals from fossil fuel-based industries.
4. Encourage corporations to set more ambitious targets for themselves and their supply chains and align their actions to achieve these objectives.
5. Significantly expand the adoption of high-impact technologies and the requisite infrastructure.
6. Mobilise climate financing for developing nations, contingent on their commitment to ambitious mitigation actions.

As we anticipate the beginning of COP28, it’s crucial to recognize the pressing nature of the climate crisis. Reports like the Global Stocktake and “The State of Climate Action” serve as urgent reminders, urging us to take swift and decisive action. COP28 marks a significant moment in our shared quest for a sustainable, Net Zero future. It’s a time for global leaders to unite, set aside differences, and pave the way toward a greener, more prosperous world. The world’s eyes are on COP28 as we strive to realign our efforts and achieve the Climate Agenda for Net Zero.

​Author: Hayatte Loukili