There is a tendency to label COP events depending on what they focus on or achieve. COP15 is widely referred to as the Paris Agreement COP. Most people associate COP26 in Glasgow with the Paris Rulebook as one of the outcomes was to finalise the guidance to operationalise the Paris Agreement. COP28, held in November in Dubai, is already being talked about as the stocktake COP.
So, what is the Global Stocktake (GST)? It’s an inventory like process, taking stock of the implementation of the Paris Agreement, collecting information from countries and other stakeholders around the world on their emissions reductions and climate action. The aim to assess the world’s collective progress towards achieving the agreement and its long-term goals. It’s a really important exercise as by measuring our progress, we can then identify any gaps and opportunities for increased action.
The process was started in 2021 and will conclude at COP28, hence why its designation as the stocktake COP, although in reality it should be labelled ‘a’ stocktake COP, as the process will be repeated every five years.
Ipieca’s role in the GST
As an UNFCCC observer organization focused on sustainability issues and which convenes a significant proportion of industry experts, Ipieca is often invited to contribute industry technical feedback and inputs to COP side events and workshops.
In addition to the information gathering element of the GST, there is also a technical assessment and dialogue, which brings together Parties to the Paris Agreement with technical experts from around the world, including Ipieca, to explore how gaps in the implementation of the Paris Agreement can be bridged, with a focus on technology, emissions mitigation, capacity building and cross-sector collaboration.
Ipieca submitted input to the technical assessment, which was accepted by UNFCCC and can be found on its website and was invited to the UNFCCC Bonn Climate Change Conference in June, which aimed to progress technical issues ahead of COP28, to present our submission during on site poster sessions. The Ipieca submission covered the following areas:
- Low-emissions pathways
- Emissions management
- Just transition
- Sustainable scale up of alternative energies
- Integrating the UN Sustainable Development Goals
- Natural climate solutions
- Sustainability reporting
The aim of the Global Stocktake at COP28 is to assess the world’s collective progress towards achieving the agreement and its long-term goals. It’s a really important exercise as by measuring our progress, we can then identify any gaps and opportunities for increased action.
What happens next?
The information collected and technical assessments will be pulled together and the findings will be presented at COP28. Ipieca will be at COP28 - as we have been for every COP event since the first one was held in Germany in 1995 – and is committed to working with our members and the wider industry to address the opportunities for enhanced action and support recommended by the GST.
