The Project for Advancing Climate Transparency (PACT) consortium supports the design and development of robust and effective transparency and accountability rules and processes for the Paris Agreement on climate change. This working paper explores the global stocktake created by the Paris Agreement and the design of the modalities, procedures, and guidelines that will govern the implementation of the global stocktake.
- The global stocktake established under Article 14 of the Paris Agreement is a process for taking stock of collective progress toward achieving the purpose of the Agreement and its long-term goals. It takes place every five years.
- The outcome of the global stocktake shall inform Parties in updating and enhancing, in a nationally determined manner, their actions and support in accordance with the relevant provisions of the Agreement, as well as in enhancing international cooperation for climate action.
- This working paper analyzes options for the core elements of modalities of the global stocktake for adoption at the 24th Conference of the Parties (COP24), which will meet in December 2018. It highlights key considerations for the development of a robust, effective, and inclusive global stocktake.
- Parties should consider how best to operationalize the scope of the global stocktake through modalities and procedures such as inputs, workstreams, and outputs, while taking into account the mandate set by the Paris Agreement (form follows function).
- In designing the modalities, Parties should ensure that the global stocktake is a process that evolves and grows stronger over time by seizing opportunities that emerge from societal, economic, and technological changes; building on lessons learned; and incorporating new information and best practices.