Why the Global Stocktake is Important for Climate Action this Decade

The first-ever global stocktake is set to conclude at the UN Climate Change Conference (COP28) at the end of this year. The global stocktake is a process for countries and stakeholders to see where they’re collectively making progress towards meeting the goals of the Paris Climate Change Agreement – and where they’re not. We know we are not on track to limit global warming to 1.5 degrees Celsius. The window for meaningful change is closing, and the time to act is now. Governments will take a decision on the global stocktake at COP28, which can be leveraged to accelerate ambition in their next round of climate action plans due in 2025.

The global stocktake is like taking inventory. It 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 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.

By evaluating where the world stands when it comes to meeting the goals of the Paris Agreement and using its inputs, 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.

In short, implementation of the Paris Agreement is lacking across all areas and not where it should be.

The Paris Agreement is praised for having inspired near-universal climate action and playing a central role in catalyzing 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 calls for a systems transformation, which follows a whole-society and whole-economy approach that mainstreams climate resilience and development aligned with low greenhouse gas emissions. Such efforts must be maintained over decades, supporting sustainable development and the eradication of poverty.

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

The global stocktake is unfolding in a critical decade for climate action.

The overarching goal of the Paris Agreement is to hold “the increase in the global average temperature to well below 2°C above pre-industrial levels” and pursue efforts “to limit the temperature increase to 1.5°C above pre-industrial levels.”

The science from the UN’s Intergovernmental Panel on Climate Change (IPCC) indicates that greenhouse gas emissions must peak before 2025 at the latest and decline 43% by 2030 to limit global warming to 1.5°C. Crossing the 1.5°C threshold risks unleashing far more severe climate change impacts, the IPCC warns.

The findings from the global stocktake’s technical report published in September are therefore both a stark reminder of the urgency of our situation and a call to action.

In this sense, it’s not the stocktake itself that is the gamechanger – it’s the global response, the response by countries as Parties to the Paris Agreement, that will make the difference in the form of higher ambition and accelerated action.

A workshop on the stocktake took place in October in the United Arab Emirates, where Parties and civil society engaged constructively on the elements of the outputs of the stocktake. The High-Level Committee also shared an update on the high-level events of the GST. A report was produced by the SB Chairs and is available here.

The United Arab Emirates also hosted informal Ministerial consultations on the global stocktake where ministers outlined their views and expectations for its outcome.

The first global stocktake will conclude at COP28.

During the conference’s first week, the stocktake’s High-Level Committee will organize a series of high-level events. These discussions will inform the political outcome summarizing key political messages, identifying opportunities, good practices, and challenges to enhance climate action and support with a view to help governments prepare more ambitious national climate action plans, due in 2025.

For more information, please visit the global stocktake page on our website or contact the team at gst@unfccc.int.