Businesses, investors, cities, states and regions are stepping up to take climate action in greater numbers than ever before – just not at the pace or scale needed to limit global temperature rise to 1.5 degrees Celsius, according to the 2023 edition of the Yearbook of Global Climate Action. Released at the UN Climate Change Conference (COP28), it underscores a notable upswing in climate initiatives by businesses, investors, and regions. Simon Stiell, UN Climate Change Executive Secretary, underscores the imperative for transformative changes across energy, transport, nature, and social systems to swiftly cut emissions and bolster resilience.
KEY INSIGHTS AND CHALLENGES
The Global Climate Action Portal, monitoring worldwide climate endeavours, records a 6% uptick in registered actors, surpassing 32,000. Nonetheless, notable gaps persist, spanning geographical coverage and the spectrum of climate solutions.
High-Level Champions Mahmoud Mohieldin and Razan Al Mubarak issue a joint plea for intensified climate action in this decade. They stress the importance of effective implementation, aligning with Sustainable Development Goals and guided by the principles of climate justice.
Significant strides include heightened support for climate-resilient cities, increased finance for marginalized groups, a handbook for policy alignment with net-zero objectives, and a report outlining strategies for unlocking climate financing in Africa.
“Effective implementation – in the context of achieving the Sustainable Development Goals – is our common goal that needs to be pursued under the guiding principle of climate justice. The global stocktake is our opportunity to forge ahead, together,” they wrote.
FOCUS ON COP28’S GLOBAL STOCKTAKE
The Yearbook places significant emphasis on the conclusion of the inaugural global stocktake at COP28, a collective evaluation of progress toward the Paris Climate Agreement goals. The report encapsulates seven pivotal messages for COP28, emphasizing alignment with the 1.5-degree target, amplifying opportunities, recognizing the pivotal role of non-Party stakeholders, ensuring commitment credibility, fostering international collaboration, discouraging siloed approaches, and urgently necessitating fair finance flows.
RENEWED AMBITION URGED
Stiell concludes that the sole response to the stocktake must be renewed ambition and accelerated action. The call is for climate initiatives shaping a trajectory to 2030, curbing global warming to 1.5 degrees Celsius while fortifying resilience. The Yearbook stands as a vital compass for governments and stakeholders, offering guidance to fortify collaboration and propel transformative climate action.