The final day of the 13-day COP28 in Dubai is upon us. On the preceding day, following numerous rounds of negotiations, the draft text summarizing the outcomes and decisions of the Conference of the Parties, serving as the meeting of the Parties to the Paris Agreement, was released. This comprehensive document provides a detailed overview of global endeavors to combat climate change.
Covering critical aspects of climate change, the draft explores topics ranging from the global stocktake process and climate finance to loss and damage linked to climate change impacts, adaptation, and mitigation efforts. Emphasizing the vital role of multilateralism, international cooperation, and consideration of human rights and gender equality, the document underscores the urgency of addressing the climate crisis through collective, coordinated, and sustained global action. 
The draft of the First Global Stocktake Under the Paris Agreement recognizes the need for profound, swift, and sustained reductions in greenhouse gas emissions. It urges participating Parties to consider a range of actions, including tripling global renewable energy capacity and doubling the annual rate of energy efficiency improvements worldwide by 2030. Additionally, it advocates for the swift reduction of unabated coal and the implementation of constraints on new unabated coal power generation.
The Parties are encouraged to expedite global efforts toward achieving net-zero emission energy systems, utilizing zero and low carbon fuels well before or around mid-century. The document highlights the acceleration of zero and low emissions technologies, such as renewables, nuclear, abatement, and removal technologies, including carbon capture and utilization, storage, and low carbon hydrogen production.
The goal is to enhance efforts in substituting unabated fossil fuels in energy systems and advocates for a just, orderly, and equitable reduction in both the consumption and production of fossil fuels to achieve net-zero emissions by, before, or around 2050.
The draft stresses the urgency of accelerating the substantial reduction of non-CO2 emissions, particularly methane emissions globally by 2030. It calls for a swift reduction in emissions from road transport through various pathways, including infrastructure development and rapid deployment of zero and low-emission vehicles. The document underscores the importance of phasing out inefficient fossil fuel subsidies that encourage wasteful consumption and do not address energy poverty or just transitions, aiming for their elimination as soon as possible.
The draft acknowledges significant collective progress toward the Paris Agreement temperature goal, with an expected global temperature increase reduced from 4°C to a range of 2.1–2.8°C with the full implementation of the latest nationally determined contributions. While there has been progress, Parties are not yet collectively on track toward achieving the purpose of the Paris Agreement and its long-term goals.
The impacts of climate change are rapidly accelerating, necessitating urgent action to keep the 1.5°C temperature goal within reach. The document underscores the need for enhanced financial resources, technology transfer, and capacity-building support to achieve the goals of the Paris Agreement.
A key highlight of the draft is the acknowledgment of the findings from the Sixth Assessment Report of the Intergovernmental Panel on Climate Change, emphasizing the imperative for accelerated action in response to the climate crisis. The draft text stresses the need for enhanced financial resources, technology transfer, and capacity-building support to meet the ambitious goals set forth in the Paris Agreement.
The document outlines a series of steps aimed at addressing loss and damage associated with climate change impacts, including recognizing the need for enhanced knowledge and understanding of risk, acknowledging existing gaps in responding to increased scale and frequency of loss and damage, and emphasizing gender-responsive and conflict-sensitive approaches. The draft text also commends international efforts to address loss and damage associated with climate change impacts in vulnerable developing countries, encouraging technical assistance through the Santiago network.