{"id":23539,"date":"2023-09-29T08:00:31","date_gmt":"2023-09-29T13:00:31","guid":{"rendered":"https:\/\/blogs.edf.org\/climate411\/?p=23539"},"modified":"2023-11-01T13:40:56","modified_gmt":"2023-11-01T18:40:56","slug":"global-stocktake-report-highlights-opportunities-for-ambitious-climate-action","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/climate411\/2023\/09\/29\/global-stocktake-report-highlights-opportunities-for-ambitious-climate-action\/","title":{"rendered":"Global Stocktake report highlights opportunities for ambitious climate action"},"content":{"rendered":"<p><em>This blog was co-authored by <a href=\"https:\/\/www.edf.org\/people\/juan-pablo-hoffmaister\" target=\"_blank\" rel=\"noopener\">Juan Pablo Hoffmaister,<\/a> AVP for Global Climate Cooperation, and <a href=\"https:\/\/www.edf.org\/people\/alice-alpert\" target=\"_blank\" rel=\"noopener\">Alice Alpert<\/a>, Senior Climate Scientist at\u00a0Environmental Defense Fund.<\/em><\/p>\n<p><a href=\"https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/\/World-Nature2.webp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23620\" src=\"https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/\/World-Nature2.webp\" alt=\"Bird's eye view of nature\" width=\"612\" height=\"344\" srcset=\"https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/World-Nature2.webp 612w, https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/World-Nature2-300x169.webp 300w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" \/><\/a><\/p>\n<p><span data-contrast=\"auto\">Earlier this month, the UN <\/span><a href=\"https:\/\/unfccc.int\/documents\/631600\"><span data-contrast=\"none\">released a report<\/span><\/a><span data-contrast=\"auto\"> synthesizing the technical assessment process of the first <\/span><a href=\"https:\/\/www.edf.org\/designing-meaningful-global-stocktake\"><span data-contrast=\"none\">Global Stocktake<\/span><\/a><span data-contrast=\"auto\"> (GST) of the Paris Agreement. The report found that the world is making some progress on fighting climate change and a path remains to reach the Paris goal of limiting global warming to 2\u00b0C. However, it warned that much remains to be done and such action must accelerate.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">A critical takeaway from the report is that clear, actionable opportunities to reach the Paris Agreement goals exist. Some of the best, most impactful solutions include actions on adaptation, mitigation and finance that all countries have within reach.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The report contains four key messages to inform and drive such action:<\/span> <!--more--><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Reduce methane emissions:<\/span><\/b><span data-contrast=\"none\">\u202fMethane is a shorter-lived but more powerful greenhouse gas than carbon dioxide. The GST Synthesis report notes that low-cost and even profitable opportunities to reduce methane emissions exist, most of all in the oil and gas sector.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:150,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Invest in natural climate solutions:<\/span><\/b><span data-contrast=\"none\">\u202fNatural climate solutions, or nature-based solutions, have the potential to help the world tackle climate change and biodiversity loss. By conserving nature and natural ecosystems, we can ensure they act as high capacity carbon sinks.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:150,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Scale up adaptation:<\/span><\/b><span data-contrast=\"none\">\u202fThe assessment finds opportunities for adaptation across systems and sectors, but we are still to address the challenge in accessing sufficient financial support for the wide-ranging expenses disasters impose.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:150,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Accelerate the transition to clean energy:<\/span><\/b><span data-contrast=\"none\">\u202fThe GST Synthesis report is clear that achieving the Paris goals requires phasing out all unabated fossil fuels. But a fossil fuel phase-out will only work if it is accompanied by a rapid acceleration of renewable energy deployment. Deploying these solutions and technologies requires smart finance deployment.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:150,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">Pursuing high impact solutions\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">From dozens of expert presentations and hundreds of submissions from parties and non-party stakeholders alike, the GST synthesis report points to immediate opportunities for meaningful climate action within every country\u2019s reach. Below we highlight a few high impact solutions that are ready to implement and have the capability to make deep emissions reductions.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Methane\u00a0<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The GST synthesis report notes that methane concentrations in 2019 were higher than at any time in the last 800,000 years. Last year the Intergovernmental Panel on Climate Change found that reductions of methane emissions would lower peak warming and reduce the likelihood of overshooting warming limits. Early methane mitigation is also <\/span><a href=\"https:\/\/iopscience.iop.org\/article\/10.1088\/1748-9326\/ac4f10\"><span data-contrast=\"none\">critical for reducing the risk of catastrophic events<\/span><\/a><span data-contrast=\"auto\"> such as the loss of summer Arctic sea ice.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">But it\u2019s not all bad news. The report also recognizes that there are low and even negative cost (i.e., profitable) opportunities to reduce methane emissions, most of all in the oil and gas sector. <\/span><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4136535\"><span data-contrast=\"none\">Options exist<\/span><\/a><span data-contrast=\"auto\"> for both oil and gas producing countries and importers, including policy instruments based on methane emission quantification and monitoring, reporting, and verification. For producers, <\/span><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4136535\"><span data-contrast=\"none\">additional options include direct regulatory strategies<\/span><\/a><span data-contrast=\"auto\"> such as mandating regular leak detection and repair surveys, restrictions on venting and flaring, and equipment technology standards.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In fact, readily available methods to reduce methane can deliver <\/span><a href=\"https:\/\/iopscience.iop.org\/article\/10.1088\/1748-9326\/abf9c8\"><span data-contrast=\"none\">0.25<\/span><span data-contrast=\"none\">\u2103<\/span><span data-contrast=\"none\"> of avoided temperature rise<\/span><\/a><span data-contrast=\"auto\"> by 2050. For this reason, all NDCs should strive to reduce methane emissions.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Natural Climate Solutions<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Natural climate solutions, or nature-based solutions, have the potential to help the world tackle climate change and biodiversity loss. By conserving nature and natural ecosystems, we can ensure they act as high-capacity carbon sinks, able to reduce emissions or sequester 7.3 GtCO2e per year. At the same time, we preserve forests, biodiversity, soil health, water quality and help local communities thrive.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">To be most effective, we need to implement natural climate solutions rapidly. For example, we must end and reverse tropical deforestation before the end of this decade to prevent tropical forests from reaching a tipping point at which they\u2019ll become net carbon emitters.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The GST Report emphasizes that both halting and reversing deforestation by 2030, and restoring and protecting natural ecosystems will result in large-scale CO2 absorption and co-benefits. One tool to help scale up forest conservation financing is high integrity carbon markets. Carbon markets with <\/span><a href=\"https:\/\/tfciguide.org\/\"><span data-contrast=\"none\">high social and environmental integrity <\/span><\/a><span data-contrast=\"auto\">can cut carbon emissions substantially from avoided deforestation, <\/span><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0305750X2300075X#:~:text=Assuming%20well%2Ddesigned%20policies%20with,on%20current%20Paris%20Agreement%20pledges\"><span data-contrast=\"none\">enable greater climate ambition<\/span><\/a><span data-contrast=\"auto\">, and support Indigenous and other forest peoples\u2019 struggles to protect their forests and resources.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Adaptation<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The GST synthesis report finds opportunities for adaptation across systems and sectors, many of which have been mainstreamed into existing development priorities and processes. <\/span><a href=\"https:\/\/www.edf.org\/inclusive-insurance\"><span data-contrast=\"none\">EDF has found that a core challenge<\/span><\/a><span data-contrast=\"auto\"> is access to sufficient financial support for the wide-ranging expenses disasters impose. Low-income households, in particular, need adequate financial resources to recover from natural disasters and avoid backsliding on hard-earned financial gains.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">One innovation that can provide fast and flexible dollars to the most vulnerable people after a disaster is parametric risk transfer insurance, which insures against the occurrence of a specific event with a set amount based on the magnitude of the event, as opposed to the magnitude of the losses in a traditional insurance scheme. <\/span><a href=\"https:\/\/blogs.edf.org\/markets\/2023\/03\/01\/a-new-pilot-launches\/?_gl=1*1fqbl8t*_ga*NzI0OTkwOTk3LjE2NzUxOTU0NTc.*_ga_2B3856Y9QW*MTY5NTY1NzIzNi43OS4xLjE2OTU2NTczMDUuNjAuMC4w*_ga_Q5CTTQBJD8*MTY5NTY1NzIzNi43OS4xLjE2OTU2NTczMDUuNjAuMC4w*_gcl_au*NTI2OTYwMDMuMTY5Mzg0NDcyNA..\"><span data-contrast=\"none\">EDF is partnering with others<\/span><\/a><span data-contrast=\"auto\"> to develop a parametric product that will pay the low-income neighborhoods following extreme rain.\u202f<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Finance<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The GST Synthesis report is clear: achieving the Paris goals requires phasing out all unabated fossil fuels. But a fossil fuel phase-out will only work if it is accompanied by a rapid acceleration of renewable energy deployment, and the availability of other technologies needed to electrify the transport sector. Scaling up these solutions and technologies requires the deployment of finance. To this end, the GST concludes the technologies that already exist, \u201cneed to be rapidly deployed, together with accelerated innovation, development, and transfer of new technologies, to support the needs of developing countries.\u201d\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The GST report finds that a transformation of the global financial system is required to scale up climate finance. Such transformation is within reach through the global reform of multilateral development banks to adjust investment plans and portfolios in order to increase their investments in decarbonization and resilience projects to align with the goals of the Paris Agreement.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">COP28 and beyond<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">A successful Global Stocktake will result in NDCs that put us on a path to reach the goals of the Paris Agreement. To do this, at COP28 the United Arab Emirates COP presidency and other key stakeholders must deliver an ambitious, solutions-oriented outcome for the GST process. This means the GST must deliver clear signals on high-impact opportunities to reduce emissions and adapt to climate change. And it must deliver clear expectations for action in 2024 and 2025 and the revised climate action plans countries put forward in their NDCs.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This blog was co-authored by Juan Pablo Hoffmaister, AVP for Global Climate Cooperation, and Alice Alpert, Senior Climate Scientist at\u00a0Environmental Defense Fund. Earlier this month, the UN released a report synthesizing the technical assessment process of the first Global Stocktake (GST) of the Paris Agreement. The report found that the world is making some progress &#8230;<\/p>\n","protected":false},"author":153063,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[42,46599],"tags":[],"coauthors":[],"class_list":["post-23539","post","type-post","status-publish","format-standard","hentry","category-science","category-united-nations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Global Stocktake report highlights opportunities for ambitious climate action - Climate 411<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.edf.org\/climate411\/2023\/09\/29\/global-stocktake-report-highlights-opportunities-for-ambitious-climate-action\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global Stocktake report highlights opportunities for ambitious climate action - Climate 411\" \/>\n<meta property=\"og:description\" content=\"This blog was co-authored by Juan Pablo Hoffmaister, AVP for Global Climate Cooperation, and Alice Alpert, Senior Climate Scientist at\u00a0Environmental Defense Fund. Earlier this month, the UN released a report synthesizing the technical assessment process of the first Global Stocktake (GST) of the Paris Agreement. The report found that the world is making some progress ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blogs.edf.org\/climate411\/2023\/09\/29\/global-stocktake-report-highlights-opportunities-for-ambitious-climate-action\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate 411\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-29T13:00:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-01T18:40:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/\/World-Nature2.webp\" \/>\n<meta name=\"author\" content=\"Juan Pablo Hoffmaister\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@jhoffmaister\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Juan Pablo Hoffmaister\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/2023\\\/09\\\/29\\\/global-stocktake-report-highlights-opportunities-for-ambitious-climate-action\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/2023\\\/09\\\/29\\\/global-stocktake-report-highlights-opportunities-for-ambitious-climate-action\\\/\"},\"author\":{\"name\":\"Juan Pablo Hoffmaister\",\"@id\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/#\\\/schema\\\/person\\\/5ef3824a5e4c8f4c284361179dc397e3\"},\"headline\":\"Global Stocktake report highlights opportunities for ambitious climate action\",\"datePublished\":\"2023-09-29T13:00:31+00:00\",\"dateModified\":\"2023-11-01T18:40:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/2023\\\/09\\\/29\\\/global-stocktake-report-highlights-opportunities-for-ambitious-climate-action\\\/\"},\"wordCount\":1114,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/2023\\\/09\\\/29\\\/global-stocktake-report-highlights-opportunities-for-ambitious-climate-action\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/wp-content\\\/blogs.dir\\\/7\\\/files\\\/\\\/World-Nature2.webp\",\"articleSection\":[\"Science\",\"United Nations\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/2023\\\/09\\\/29\\\/global-stocktake-report-highlights-opportunities-for-ambitious-climate-action\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/2023\\\/09\\\/29\\\/global-stocktake-report-highlights-opportunities-for-ambitious-climate-action\\\/\",\"url\":\"https:\\\/\\\/blogs.edf.org\\\/climate411\\\/2023\\\/09\\\/29\\\/global-stocktake-report-highlights-opportunities-for-ambitious-climate-action\\\/\",\"name\":\"Global Stocktake report highlights opportunities for ambitious climate action - 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