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United Nations Global Stocktake Report

Context:

The climate crisis became intricately entwined with the G20 summit in Delhi, especially in the conversations about clean energy, sustainable development, and the shared responsibility needed to prevent it.

Relevance:

GS3- Environment

Mains Question:

The recently released UN Global Stocktake Report must form the basis of negotiations to aid the discovery and adoption of genuine breakthroughs. Discuss. (10 marks, 150 words).

United Nations Global Stocktake Report:

This stocktake is intended to serve as a framework for guiding discussions leading up to the 28th Conference of Parties scheduled in Dubai this November. It is designed to officially assess the progress made by countries since 2015 in curbing greenhouse gas (GHG) emissions.

Findings of the Report:

  • In 2015, the signatories to the UN convention on climate change, as agreed in Paris, committed to preventing global emissions from increasing beyond 2°C and striving to limit them to 1.5°C if possible. However, the report acknowledges that, at present, the world is emitting gases in a manner that will undoubtedly exceed the agreed-upon limits set in Paris.
  • The report makes it clear that achieving these goals will require “much greater ambition in action and support” to implement domestic mitigation measures, aiming to reduce global GHG emissions by 43% by 2030, 60% by 2035, and ultimately achieve net-zero CO2 emissions globally by 2050.
  • It emphasizes the importance of combating deforestation and promoting the use of electric vehicles as crucial components of a green energy economy.

Emission Gap:

According to the latest data provided by countries, the emissions difference required to align with a 1.5°C target by 2030 is estimated to fall within the range of 20.3 billion to 23.9 billion metric tonnes of CO2. Closing these gaps is improbable unless there is a swift expansion of renewable energy capacity and a deliberate move away from fossil fuel sources like coal, oil, and natural gas.

G20 and climate talks:

  • G20 nations are responsible for 93% of currently operational coal power plants worldwide and 88% of planned future ones.
  • The G20 Leader’s Declaration formally acknowledges the necessity of funding, stating that approximately USD 5.8-5.9 trillion will be needed in the period leading up to 2030 to support developing countries, along with an annual requirement of USD 4 trillion for clean energy technologies by 2030, aiming to achieve net-zero emissions by 2050.

Conclusion:

The United Nations’ Global Stocktake, was released just before the G20 meet and set out the agenda for the scope of challenges that awaited the major economies of the world. While the report does not mention specific nations or offer a more detailed examination of the deficiencies in the emission reduction strategies employed by countries, it is important not to overlook the Stocktake report as merely another technical document.


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