COP28: What is global stocktake, why is it important and what's India's position
proposed options for the phase-out of unabated coal, and an orderly and just transition away from fossil fuels. This might emerge as a contentious point for India, where "coal is and would remain an important part of India's energy mix". Coal and other fossil fuels are responsible for the emission of greenhouse gases, that, in turn, impact global climate and temperature.
As COP28 leaders aim to achieve a consensus on the global stocktake draft, here's what it means and what's at stake: The United Nations says the global stocktake is like taking inventory. Meanwhile, the Centre for Science and Environment says it is like a report card on the 2015 Paris Agreement's goal. "It (global stocktake) means looking at everything related to where the world stands on climate action and support, identifying the gaps, and working together to chart a better course forward to accelerate climate action," the UN explains.
The global stocktake takes place every five years, with the first-ever stocktake set to conclude at COP28. The goal of the Paris Agreement is to hold “the increase in the global average temperature to well below 2°C above pre-industrial levels". It also seeks to pursue efforts “to limit the temperature increase to 1.5°C above pre-industrial levels".
The process is expected to yield a blueprint for future policy action by governments to try to prevent climate change from escalating to extremes. "It is intended to inform the next round of climate action plans under the Paris Agreement to be put forward by 2025," the UN says. The stocktake can help policymakers and stakeholders strengthen their climate policies and commitments in their next round of Nationally Determined Contributions, or ‘NDCs’, paving the way for
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