PAMACC News - The Global Stocktake, to assess countries’ progress against the goals on climate change laid out in the Paris Agreement in 2015, must lead to rapid action to get the world back on track to limit warming to 1.5 degrees and to cope with the effects of a changed climate, according to the group of 46 Least Developed Countries (LDC) group who negotiate as a bloc at the UN’s climate change talks.

The first Global Stocktake of progress towards the global goals of the Paris Agreement is expected to conclude at the next round of negotiations, COP28, getting underway in Dubai, UAE later this month. It is already clear it will find that countries are failing to meet all the goals, including limiting warming to 1.5°C above preindustrial levels, enhancing adaptation to climate change, increasing climate finance and addressing loss and damage.

Madeleine Diouf Sarr, Chair of the LDC group said “Heat waves, floods, droughts, cyclones, forest fires and sea level rise — the consequences of climate change are becoming clearer each day, with extreme events affecting the lives and livelihoods of vulnerable people across the globe first, and worst.

“The stocktake must clearly articulate how and why countries are falling short on reaching their goals and make robust recommendations to drive an urgent increase in emissions reduction commitments, adaptation efforts, support to address already occurring loss and damage, and climate finance.”

The LDC group will be looking for richer countries to rebuild trust on the issue of climate finance by demonstrating they’ve met the $100bn goal they promised to developing countries by 2020 for addressing climate change. Developed countries should also adopt a roadmap on the goal to double finance to pay for measures to adapt to climate change by 2025. And the LDC group expects to see negotiation of a common definition of climate finance to make the tracking of progress towards these goals easier and more transparent.

The paper, Vulnerability, Finance and Ambition – Critical Negotiations at COP28 for LDCs, co-written with the International Institute for Environment and Development (IIED), sets out further aims including around the new loss and damage fund. The LDC group wants to see the fund put into action and its coffers filled not with loans that will worsen the debt crisis for many countries, but with grants.

Since the COP26 negotiations in Glasgow two years ago, countries have been working on agreeing a global approach to efforts to adapt to climate change in order to meet the Paris Agreement’s global goal on adaptation . Disagreements remain on the scope of targets to be included in the new framework and how the work required to meet such targets will be paid for. The LDC group wants to see the adoption of a robust framework on the global goal at COP28 centred around people, livelihoods and ecosystems.

The Global Stocktake, to assess countries’ progress against the goals on climate change laid out in the Paris Agreement in 2015, must lead to rapid action to get the world back on track to limit warming to 1.5 degrees and to cope with the effects of a changed climate, according to the group of 46 Least Developed Countries (LDC) group who negotiate as a bloc at the UN’s climate change talks.

The first Global Stocktake of progress towards the global goals of the Paris Agreement is expected to conclude at the next round of negotiations, COP28, getting underway in Dubai, UAE later this month. It is already clear it will find that countries are failing to meet all the goals, including limiting warming to 1.5°C above preindustrial levels, enhancing adaptation to climate change, increasing climate finance and addressing loss and damage.

Madeleine Diouf Sarr, Chair of the LDC group said “Heat waves, floods, droughts, cyclones, forest fires and sea level rise — the consequences of climate change are becoming clearer each day, with extreme events affecting the lives and livelihoods of vulnerable people across the globe first, and worst.

“The stocktake must clearly articulate how and why countries are falling short on reaching their goals and make robust recommendations to drive an urgent increase in emissions reduction commitments, adaptation efforts, support to address already occurring loss and damage, and climate finance.”

The LDC group will be looking for richer countries to rebuild trust on the issue of climate finance by demonstrating they’ve met the $100bn goal they promised to developing countries by 2020 for addressing climate change. Developed countries should also adopt a roadmap on the goal to double finance to pay for measures to adapt to climate change by 2025. And the LDC group expects to see negotiation of a common definition of climate finance to make the tracking of progress towards these goals easier and more transparent.

The paper, Vulnerability, Finance and Ambition – Critical Negotiations at COP28 for LDCs, co-written with the International Institute for Environment and Development (IIED), sets out further aims including around the new loss and damage fund. The LDC group wants to see the fund put into action and its coffers filled not with loans that will worsen the debt crisis for many countries, but with grants.

Since the COP26 negotiations in Glasgow two years ago, countries have been working on agreeing a global approach to efforts to adapt to climate change in order to meet the Paris Agreement’s global goal on adaptation . Disagreements remain on the scope of targets to be included in the new framework and how the work required to meet such targets will be paid for. The LDC group wants to see the adoption of a robust framework on the global goal at COP28 centred around people, livelihoods and ecosystems.