COP28: New GST draft text gives four options for move towards clean energy
A new draft of the Global Stocktake released on Friday here at the COP28 has four options for the move towards clean energy ranging from phase out of fossil fuels to no mention of the phase out at all.
The Global Stocktake is a fundamental component of the Paris Agreement of 2015 which is used to monitor its implementation and evaluate the collective progress made in achieving the agreed goals of restricting emission to keep temperature rise to 1.5 degrees Celsius as compared to the pre-industrial era.
At the ongoing climate change negotiations, called the Conference of Parties (COP28), the Global Stocktake (GST) text is the most crucial document set to be finalised by the negotiators by the end of this two-week long annual meet.
Several contentious issues, including proposals to phase out fossil fuels, triple renewables capacity, and double energy efficiency improvement are still unresolved as negotiations continue in the second week.
The four options for the move towards clean energy in the 27-page latest draft are clearly chalked out.
The first option is phase out of fossil fuels in line with the best available science while the second is phasing out fossil fuels in alignment with the IPCC's 1.5 pathways, and the Paris Agreement's principles.
The third option is a phase-out of unabated fossil fuels recognizing the need for a peak in their consumption in this decade and underlining the importance for the energy sector to be predominantly free of fossil fuels well ahead of 2050. The fourth is phasing out unabated fossil fuels and to rapidly reducing their use to achieve Net Zero CO2 in energy systems by or around mid-century, according to the draft text.
The Global Stocktake draft "emphasises the importance of the Global Goal on Adaptation of enhancing adaptive capacity, strengthening resilience and reducing vulnerability to climate change.
The GST draft urged developed country Parties to at least double their collective provision of climate finance for adaptation to developing country Parties from 2019 levels by 2025, in the context of achieving a balance between mitigation and adaptation in the provision of scaled-up financial resources.
On adaptation, the text emphasises on the importance of the global goal on adaptation of enhancing adaptive capacity, strengthening resilience and reducing vulnerability to climate change, with a view to contributing to sustainable development and ensuring an adequate adaptation response in the context of the temperature goal referred to in Article 2 of the Paris Agreement.
