There are many terms that are used in the management of Greenhouse gases and climate change especially words that you will hear at the COP26 summit in Glasgow in early November 2021 and its aftermath.
However, these terms are not always explained clearly.
Let’s take one term: Global Stocktake and look at what is means and what we can expect at COP26 and beyond.
This article looks at one of the words that are used in the climate change management and that will be widely used in the COP26, which is the global climate change summit taking place in Glasgow from 1 – 12 November in 2021.
Global Stocktake is a new feature of the intergovernmental negotiations carried out under the UNFCCC process. Negotiations on various items dealing with different aspects of global stocktake are covered in the Convention, the Kyoto Protocol and the Paris Agreement are currently ongoing under the negotiating bodies under the UNFCCC (United Nations Framework Convention on Climate Change).
What is the Global Stocktake?
The global stocktake (or GST) of the Paris Agreement is a process for taking stock of the implementation of the Paris Agreement with the aim to assess the world’s collective progress towards achieving the purpose of the agreement and its long-term goals. The first GST will take place from 2021 to 2023 and the process will be repeated every 5 years thereafter.
The GST will be comprehensive and facilitative process to assess the collective progress on the following thematic areas: mitigation, adaptation and finance flows and means of implementation and support.
The global stocktake considers the efforts on the social and economic consequences of the climate change actions taking into account considerations, such as equity and will make use of the best available science.
The outcome of the GST will inform countries on updating and enhancing their Nationally Determined Contributions (NDCs), their climate actions and support, as well as on enhancing international cooperation for climate action.
For more about the content of Nationally Determined Contributions, please click on the link here.
What can we expect at COP26?
COP26 will be at the near start of the Global Stocktake process. In the diagram, the timelines of the three components of the first global stocktake – information collection and preparation in late 2021 towards 2023, technical assessment spanning a similar timescale and consideration of outputs, and some of its inputs and mandated activities for COP28 in 2023.
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