This summary of the progress made from the CoP23 Paris Agreement is the first official global stock take undertaken, known as the

Technical dialogue of the first global stocktake

The report will be a central debating feature of the CoP28 meeting, to be held between November 30^th to December 12^th, 2023, in Dubai, the UAE. This report aims to inform and gain consensus on how to move forward.

Over 70,000 attendees are expected to gather and discuss various issues relating to our climate and formulate a fresh impetus for the path forward.

So, in Summary, this global stock take undertaken had these conclusions

Context

1. Since its adoption, the Paris Agreement has driven near-universal climate action by setting goals and sending signals to the world regarding the urgency of responding to the climate crisis. While action is proceeding, much more is needed now on all fronts.
2. To strengthen the global response to the threat of climate change in the context of sustainable development and efforts to eradicate poverty, governments need to support systems transformations that mainstream climate resilience and low GHG emissions development. Credible, accountable and transparent actions by non-party stakeholders are needed to strengthen efforts for systems transformations.
3. Systems transformations open up many opportunities, but rapid change can be disruptive. Focusing on inclusion and equity can increase ambition in climate action and support.

Mitigation, including response measures

1. Global emissions are not in line with modelled global mitigation pathways consistent with the temperature goal of the Paris Agreement, and there is a rapidly narrowing window to raise ambition and implement existing commitments in order tolimit warming to 1.5 °C above pre-industrial levels.
2. Much more ambition in action and support is needed in implementing domestic mitigation measures and setting more ambitious targets in NDCs to realize existing and emerging opportunities across contexts, in order toreduce global GHG emissions by 43 per cent by 2030 and further by 60 per cent by 2035 compared with 2019 levels and reach net zero CO2 emissions by 2050 globally.
3. Achieving net zero CO2 and GHG emissions requires systems transformations across all sectors and contexts, including scaling up renewable energy while phasing out all unabated fossil fuels, ending deforestation, reducing non-CO2 emissions, and implementing supply-and demand-side measures.
4. Just transitions can support more robust and equitable mitigation outcomes with tailored approaches addressing different contexts.
5. Economic diversification is a key strategy to address the impacts of response measures, with various options that can be applied in different contexts.

Adaptation, including loss and damage

1. As climate change threatens all countries, communities and people around the world, increased adaptation action as well as enhanced efforts to avert, minimize and address loss and damage are urgently needed to reduce and respond to increasing impacts, particularly for those who are least prepared for change and least able to recover from disasters.
2. Collectively, there is increasing ambition in plans and commitments for adaptation action and support, but most observed adaptation efforts are fragmented, incremental, sector-specific and unequally distributed across regions.
3. When adaptation is informed and driven by local contexts, populations and priorities, both the adequacy and the effectiveness of adaptation action and support are enhanced, and this can also promote transformational adaptation.
4. Averting, minimizing and addressing loss and damage requires urgent action across climate and development policies to manage risks comprehensively and provide support to impacted communities.
5. Support for adaptation and funding arrangements for averting, minimizing and addressing loss and damage need to be rapidly scaled up from expanded and innovative sources, and financial flows need to be made consistent with climate-resilient development to meet urgent and increasing needs.

Means of implementation and support and finance flows

1. Scaled-up mobilization of support for climate action in developing countries entails strategically deploying international public finance, which remains a prime enabler for action, and continuing to enhance effectiveness, including access, ownership and impacts.
2. Making financial flows -international and domestic, public and private-consistent with a pathway toward low greenhouse gas emissions and climate-resilient development entails creating opportunities to unlock trillions of dollars and shift investments to climate action across scales.
3. Existing cleaner technologies need to be rapidly deployed, together with accelerated innovation, development and transfer of new technologies, to support the needs of developing countries.
4. Capacity-building is foundational to achieving broad-ranging and sustained climate action and requires effective country-led and needs-based cooperation to ensure capacities are enhanced and retained over time at all levels.

The Thematics over the two weeks of CoP 28 are shown below.

Conclusion (no rocket science here)

Now is the time to rapidly accelerate action and support to make progress in this critical decade.