BackUnderstanding what the Global Stocktake is and avenues for follow-up by the Sustainable Finance Observatory
Following the release of the Global Stocktake phase 2 summary report, the Observatoire is publishing a descriptive note on this first exercise and proposals for work that could be undertaken by the Observatoire de la finance durable in connection with the financial flows section of the GST.
What is the Global Stocktake, the UN monitoring framework?
Find out more about the objectives of this action, which forms the basis of the 1st report published last week by the United Nations Framework Convention on Climate Change in a note from the Observatoire de la Finance Durable.
The GST is the first step in the first "Global Stocktake" of the Paris Agreement, aimed at doing everything possible to limit global warming to 1.5° above pre-industrial lev
This first global assessment of climate action is due to be renewed every five years, and will form the basis for the (difficult) negotiations at the next Cop 28 in Dubai.
The Observatory is therefore particularly interested in this reporting, which shares a common mission with it: tracking financial flows as part of the commitments made in article 2.1.c of the Paris Agreement.
Several types of indicators can be found in this summary:
- Public and private investment in fossil fuels;
- The amount of investment in adaptation compared to that mobilized for climate change mitigation
- The amount of financial flows from developed countries to developing countries, which are hardest hit by the consequences of global warming.
Find out more by downloading the note below and the UNFCCC co-facilitators' summary report here.
Understanding what Global Stocktake is and how it can be followed up by the Observatoire de la Finance Durable (Sustainable Finance Observatory)
Download the file