COP28: Global Stocktake calls for just phase-out of fossil fuels

The text gives the option of a rapid phase-out of coal power and cessation of permitting new coal power generation

- Jayashree Nandi

A new draft of the Global Stocktake, released at the ongoing UN Climate Summit (COP28) on Tuesday, gave options on the way forward on key issues of negotiations including on mitigation, fossil fuels, equity and historical responsibility.

Among the options, more alarmingly, is "no text", which essentially means that the clause will be dropped from the final text if countries are unable to arrive at a consensus.

This year's conference will see the conclusion of the first Global Stocktake (GST), and hence is likely to be an assessment of how countries have fared so far in meeting their Paris Agreement goals. The draft text includes options for tripling global renewable capacity by 2030 compared to the 2022 levels to 11,000 GW and doubling the global average annual rate of energy-efficiency improvement compared to the 2022 levels to 4.1% by 2030.

For the second, no text is an option.