Global Stocktake: Unlocking Opportunities for Transformative Climate Action

Waterloo Climate Institute releases information brief tackling the international law implications of the Global Stocktake 

As COP29 takes place in Baku, Azerbaijan, a newly released information brief examines the international impact of the Global Stocktake on climate action. The inaugural Global Stocktake (GST), a keystone of the Paris Agreement, concluded last year at COP28 in the United Arab Emirates (UAE) with a resounding call for nations to escalate climate ambition. The GST, conducted every five years, evaluates progress in curbing global emissions and achieving sustainability goals.  

Key outcomes, highlighted in the brief, include the imperative for countries to revise Nationally Determined Contributions (NDCs), which are national climate plans that outline how a countries will reduced greenhouse emissions and adapt to climate change. These revisions should take place before 2025 and ensure NDCs are informed by GST findings and integrate comprehensive strategies for renewable energy, biodiversity preservation, and emissions reduction. The GST represents a transformative shift in international climate law, pushing nations to reflect on their commitments and recalibrate for a sustainable future.

The brief shares that the GST’s findings underscore the necessity for robust policy reforms, including accelerated permitting for clean energy projects and restructured energy markets to promote innovation and de-risk renewable investments. Policymakers at the national and international level are urged by the brief to address fossil fuel subsidies and create demand signals for renewable energy infrastructure while fostering public trust through transparency and accountability. As discussions in Baku's COP29 conclude this week we are seeing a slowing of the growth of fossil fuel CO2 emissions due in part to renewable electricity for electric vehicles and heat pumps.

Even as emission growth slows, the world faces increasing climate challenges. The brief explains that the GST’s outcomes call for unified action among policymakers, private sector leaders, and civil society. The transition to a low-carbon economy requires not only legal adherence but also ethical commitment to safeguard the planet for future generations.   

Marie Claire Cordonier Segger, co-author of the brief shares, “The GST offers a blueprint for change, but its success depends on our collective resolve to transform ambition into action.” In the final week of COP29, researchers and advocates are sounding the alarm of inaction and building sense of urgency. If the UN process for negotiating a limit to global emissions is not effective, perhaps national leadership and the GST will act as a catalyst for change.