What is Global Stocktake?

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About Global Stocktake:

It refers to a proposed five-yearly review of the impact of countries’ climate change actions.
Under the Paris Agreement, every country must present a climate action plan in five-yearly cycles.
Under the Paris Agreement, the first global stocktake was to be happened in 2023.
It will assess whether the net result of the climate actions being taken was consistent with the goal of keeping the increase in global average temperature from pre-industrial times to within 2 degree Celsius.
It will help the world determine whether it needs to do more — and how much more.
It also recognises that money needs to be made available for Loss and Damage and energy transition in developing countries.

Key highlights of the report

The global emissions are not in line with modelled global mitigation pathways consistent with the temperature goal of the Paris Agreement.
There is a rapidly narrowing window to raise ambition and implement existing commitments in order to limit warming to 1.5°C.
It is the most comprehensive assessment of global action on climate change to date, based on technical/scientific data and consultation with government experts, business leaders and civil society in the past two years.

Q1) What is the goal of Paris Agreement?

The primary goal of the Paris Agreement is to limit global warming to well below 2 degrees Celsius above pre-industrial levels, with an aspirational target of limiting the temperature increase to 1.5 degrees Celsius. This is to prevent the most catastrophic effects of climate change.

Source: Global efforts falling short of climate goals says UN report