Revolutionary Raja Ram for Tax & Economic Reforms

@abhishekrajaram

10 months ago

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New GST draft text gives four options for move towards clean energy A new draft of the Global Stock take released here at the COP28 has four options for the move towards clean energy ranging from phase out of fossil fuels to no mention of the phase out at all.

The Global Stocktake is a built-in assessment within the Paris Agreement that regularly checks if countries are on track to meet their climate goals. These goals aim to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels.

At the ongoing climate change negotiations, called the Conference of Parties (COP28), the Global Stock take (GST) text is the most crucial document set to be finalised by the negotiators by the end of this two-week long annual meet.

Several contentious issues, including proposals to phase out fossil fuels, triple renewables capacity, and double energy efficiency improvement are still unresolved as negotiations continue in the second week.

The four options for the move towards clean energy in the 27-page latest draft are clearly chalked out.

The first option is phase out of fossil fuels in line with the best available science while the second is phasing out fossil fuels in alignment with the IPCC's 1.5 pathways, and the Paris Agreement's principles.

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