With each passing year of global temperature rise, the United Nations climate talks grow in importance, particularly to the development sector. But this year’s Conference of the Parties, the 28th iteration of the summit, better known as COP 28, also stands out because it is the first year of the global stocktake.
The global stocktake, established under the 2015 Paris Agreement, is intended to be an comprehensive review of how well the world has met the climate change challenge, and chart out a detailed plan for future action, sector by sector.
“The success of the global stocktake will ultimately determine the success of COP28,” wrote Simon Stiell, executive secretary of the United Nations Framework Convention on Climate Change. “It is the defining moment of this year, this COP and — as one of the only two stocktaking moments in this decisive decade of climate action — ultimately pivotal to whether or not we meet our 2030 goals.”