The United Nations Framework Convention on Climate Change has unveiled its inaugural Global Stocktake Synthesis Report, coinciding with the G20 leaders’ summit. The Global Stocktake is a pivotal component of the Paris Agreement, entailing a five-year evaluation of nations’ climate actions. Scheduled for 2023, it scrutinizes whether global climate efforts align with the agreement’s objective of limiting temperature increase to 2 degrees Celsius above pre-industrial levels. The report highlights a stark disconnect between emissions and Paris Agreement goals, urging swift action to restrict global warming to 1.5°C. It underscores the need for funding for Loss and Damage and energy transitions in developing nations.
Facts/Terms for UPSC Prelims
- Paris Agreement: An international treaty signed in 2015, aiming to combat climate change by setting goals to limit global temperature rise, adapt to climate impacts, and provide financial support for developing nations. It includes Nationally Determined Contributions (NDCs) from participating countries.
- Global Stocktake: A recurring assessment process under the Paris Agreement to evaluate collective progress toward climate goals, including the goal of limiting global warming to well below 2 degrees Celsius above pre-industrial levels.
- Energy Transition: The shift from fossil fuel-based energy sources (such as coal and oil) to cleaner and sustainable alternatives (e.g., renewable energy sources like wind, solar, and hydropower) to mitigate climate change and reduce environmental impacts.
- 5°C Goal: Part of the Paris Agreement’s aim to limit global warming to 1.5 degrees Celsius above pre-industrial levels. Achieving this goal is considered crucial to avoid the most severe impacts of climate change, such as extreme weather events and rising sea levels.
