The UNFCCC Global Stocktake can play an important role in identifying opportunities for international cooperation at a political level. This submission outlines an approach to how the Global Stocktake can be made a vehicle for accelerated national action toward climate and development objectives, by drawing insights from work done by the Deep Decarbonization Pathway Initiative in Argentina, Brazil, China, India, Indonesia, Mexico and South Africa: by identifying common global conditions that are common across countries, we can establish priority areas for international collaboration with a potential to render possible accelerated national climate and development action and the alignment of climate and development objectives.
- The GST can help identify opportunities for enhanced international cooperation, by identifying the global conditions which could enable countries to accelerate climate action and reach climate and development objectives, and discussing how international cooperation can address these conditions.
- We have identified increased access to quality finance as a common global enabling condition for Argentina, Brazil, China, India, Indonesia, Mexico and South Africa1 to jointly reach national climate and development objectives, and analysed the national investment priorities, and the barriers to finance that these priorities face.
- International cooperation on finance must develop institutional frameworks and instruments adapted to finance the full diversity of national investment priorities, in order to more successfully support national efforts to reach global climate objectives and national development objectives.
- International financial cooperation initiatives must also analyse whether and how they are currently taking into account the barriers to financing national investment priorities for climate and development in EMDCs, and report on this analysis and the additional actions pursued in order to improve their accountability.
- From this work, we extracted a few conclusions for the GST process: the need to organise the information collection and Technical Dialogues around systemic transformations and their enablers, so global enablers can be identified and acted upon.
- For the GST political phase, it should identify and act on areas for global collaboration required for increase ambition, and encourage the need for continued work on identifying such areas for international collaboration.