On September 22, Environmental Defense Fund and the Center for Climate and Energy Solutions jointly hosted an event on the Global Stocktake (GST) during New York Climate Week. The event was moderated by Kaveh Guilanpour, Vice President for International Strategies at C2ES.

Speakers:

• Angela Churie Kallhauge, Executive Vice President for Impact, Environmental Defense Fund
• Cassie Flynn, Strategic Advisor on Climate Change, United Nations Development Programme
• Frances Way, Executive Director, High-Level Climate Champions team
• Kate Larsen, Partner, Rhodium Group
• Marcelo Mena, Chief Executive Officer, Global Methane Hub
• Sebastian Oberthür, Professor, Vrije Universiteit Brussel and University of Eastern Finland

Event Summary:

The Intergovernmental Panel on Climate Change’s latest Working Group III report made clear that the global community is far off track to limiting temperature rise to 1.5 degrees Celsius. Enhanced ambition – and implementation – is crucial. The Global Stocktake can support countries by providing the information and impetus necessary to raise the ambition of their next round of nationally determined contributions (NDCs). Speakers shared their insights on the GST ahead of COP27, and ways in which it can raise global ambition and enhance countries’ NDCs. The discussion revolved around actionable solutions, and a few key insights are highlighted below.

Solutions. The implementation of solutions will be locally specific, but many of the solutions themselves are broadly relevant. Clean electrons, for example, are a turning point for the decarbonization of all sectors, including transport, industry and electricity. To stay on track for net zero, the scale up of renewable capacity globally needs to be an order of magnitude greater. This is a challenge for both developed and developing countries.

Barriers. Mobilizing private finance and establishing the right systems to enable finance to flow is key to enhancing ambition. But the GST also provides a forum for countries to share how they are tackling non-cost challenges such as permitting processes and supply chain issues. It can provide important context for countries looking to implement solutions in a variety of regional and local contexts.

Transparency. The GST can better facilitate knowledge sharing among countries and non-state actors. It can, for example, provide visibility on which countries are most effectively dealing with implementation barriers. It also provides an opportunity to involve the private sector in efforts to generate and share data that empowers countries.

Equity. While some NDCs are at the front of the line in terms of attracting finance, partnerships and private sector attention, others are overlooked. Small Island Developing States (SIDS) and Least Developed Countries (LDCs), for example, have the most ambitious NDCs, and yet receive the least amount of finance and partnership attention. The GST process must be inclusive, and the material it generates must be relevant to all countries.

Inclusivity. The GST must also be relevant to a wide range of stakeholders beyond countries. The Paris Agreement processes provide signals and guidance not only to countries but also to the wider world. The GST—strengthened through broad participation—should speak to pre-existing communities of action that are well-placed to implement solutions.