Global Stocktake draft calls for phasing out fossil fuels

Subject: Environment

Section: Int Conventions

Context:

The latest version of the Global Stocktake (GST) includes a clause committing all signatories to “an orderly and just phase out of fossil fuels”.

Details:

For the first time, a key document being negotiated at the UN’s annual climate summit has underlined the need for the world to do away with all fossil fuels, in its draft text.

Global Stocktake (GST):

GST will be a Party-driven process conducted transparently and with the participation of non-party stakeholders.
It will be done every five years, starting from 2023.
It enables countries and other stakeholders to see where they’re collectively making progress toward meeting the goals of the Paris Agreement – and where they’re not.
It’s like taking inventory. It means looking at everything related to where the world stands on climate action and support, identifying the gaps, and working together to agree on solutions pathways (to 2030 and beyond).
GST also points to a growing gap between the needs of developing countries and the support provided and mobilized for them, and calls for the unlocking and redeployment of trillions of dollars towards climate action and climate-resilient development.