COP 28: The Global Stocktake (GST) text is the most crucial document set to be finalised by the negotiators by the end of this two-week-long annual meet
In the latest draft of the Global Stocktake unveiled on Friday during COP28, negotiators grapple with four distinct options to guide the global transition towards clean energy, ranging from a decisive phase-out of fossil fuels to the conspicuous absence of any mention of such a phase-out.
Crucial to the Paris Agreement of 2015, the Global Stocktake serves as a linchpin for monitoring and evaluating the progress made in implementing the accord's goals. These goals centre around curbing emissions to limit the rise in temperature to 1.5 degrees Celsius compared to pre-industrial levels.
As the COP28 climate change negotiations unfold, the Global Stocktake (GST) text stands out as a pivotal document set for finalisation by the end of this two-week annual gathering. Key issues, including proposals on fossil fuel phase-outs, tripling renewable energy capacity, and doubling energy efficiency improvements, remain unresolved as negotiators delve into the second week of discussions.
Outlined in the 27-page draft are four distinct options for advancing clean energy. The first option advocates for a phased elimination of fossil fuels in line with the best available scientific knowledge. The second suggests a phase-out aligned with the Intergovernmental Panel on Climate Change's (IPCC) 1.5-degree pathways and the principles of the Paris Agreement.
The third option proposes a gradual reduction in unabated fossil fuel usage, recognising the imperative of peaking consumption within this decade. It emphasises the need for the energy sector to predominantly free itself from fossil fuels well before 2050. The fourth option calls for the swift reduction and eventual phasing out of unabated fossil fuels to achieve net zero CO2 in energy systems by or around mid-century.
The draft underscores the significance of the Global Goal on Adaptation, urging developed countries to double their climate finance provisions for adaptation to developing nations by 2025. This is framed within the broader context of achieving a balance between mitigation and adaptation in the allocation of financial resources.
Addressing adaptation, the text underscores the global goal's role in enhancing adaptive capacity, strengthening resilience, and reducing vulnerability to climate change. These efforts align with sustainable development objectives while ensuring an adequate adaptation response in line with the temperature goal outlined in Article 2 of the Paris Agreement.
However, concerns are raised regarding the text's reference to 'abatement and removal technologies,' including carbon capture, utilisation and storage, and low-carbon hydrogen production. Harjeet Singh from Climate Action Network International criticises these technologies as unproven and unreliable distractions from the genuine actions required to expedite a fair transition away from fossil fuels.
Shirley Matheson, NDC Enhancement Coordinator at WWF International, acknowledges the draft as a step in the right direction, particularly in its improved language regarding fossil fuels. Nevertheless, she expresses concern over the option allowing for the absence of text on fossil fuels, advocating for its rejection. Matheson emphasises the need for the global stocktake to be a decisive moment signalling the end of the fossil fuel era.