Some key takeaways from the Petersberg Climate Dialogue

Subject: Environment

Section: International Convention

Context:

The Petersberg Dialogue on Climate Change was held in Berlin from May 2-3, 2023. It was hosted by Germany and the United Arab Emirates, which is hosting the 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change.

Details:

Global renewable target:
- In order to limit global warming to 1.5°C, the world needs to make sharp cuts in its greenhouse gas emissions.
$100 billion climate finance:
- The developed countries are “on a good track” to deliver the $100 billion per year they had promised to mobilise by 2020 during the COP15 in 2009.
- The burden of whether we can keep global temperatures from rising much beyond the 1.5 degrees of warming cannot fall on the poorest countries — those who are least responsible for the stock of greenhouse gases in the atmosphere.

Global Stocktake:

2023 is the year for the Global Stocktake, which is essentially a periodic review of global climate action which aims to assess whether current efforts will enable us to reach the objectives set out in the Paris Agreement.
This is the first Global Stocktake year since the Paris Agreement was signed in 2015. The report will be released in September 2023.

What is Global Stocktake?

The global stocktake is a critical turning point when it comes to efforts to address climate change – it’s a moment to take a long, hard look at the state of our planet and chart a better course for the future.
The global stocktake is a Party-driven process conducted in a transparent manner and with the participation of non-Party stakeholders, that 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).
Administered by: UNFCCC.