DUBAI: Governments will take a decision on the Global Stocktake (GST) at COP28, which can be leveraged to accelerate ambition in the now-running climate summit hosted by the UAE from 30th November to 12th December.

The COP28 marks a crucial turning point and opportunity for countries toward meeting the goals of the Paris Agreement, identify challenges, and develop plans for the future.

The Global Stocktake takes place every five years, with the first-ever stocktake set to conclude at COP28. It is intended to inform the next round of climate action plans under the Paris Agreement (nationally determined contributions, or ‘NDCs’) to be put forward by 2025.

The stocktake can help policymakers and stakeholders strengthen their climate policies and commitments in their next round of NDCs, paving the way for accelerated action.

According to the UNFCC website, the Paris Agreement is praised for having inspired near-universal climate action and playing a central role in catalysing cooperative action, so the world can address the climate crisis.

But there is a well-known big mitigation gap, with the current trajectory of global emissions not being consistent with limiting the global temperature rise to 1.5 °C, while adaptation to climate change is not at the levels needed.

The stocktake also points to a growing gap between the needs of developing countries and the support provided and mobilised for them, and calls for the unlocking and redeployment of trillions of dollars towards climate action and climate-resilient development.

Rola AlGhoul