Context:
- The latest version of the Global Stocktake (GST) includes a clause committing all signatories to “an orderly and just phase out of fossil fuels” at COP28.
- African leaders launched Africa Green Industrialisation Initiative (AGII) at 28th Conference of Parties (COP28).
What is Global Stocktake?
- It is a critical turning point when it comes to efforts to address climate change i.e. to assess the global response to the climate crisis.
- Global Stocktake is expected to take place once in 5 years.
Must Read: Global Stocktake Technical Synthesis Report
Africa Green Industrialisation Initiative (AGII):
- Aim – To accelerate green growth of industries in Africa and attract finance and investment opportunities.
- It, incorporates elements of Sustainable Development Goals and Paris Agreement, discourages use of fossil fuel and its production which causes global warming.
- It marks a concrete step toward realization of Nairobi Declaration, activating private sector-led scaling-up of green industrial clusters.
Nairobi Declaration:
- It has suggestions, commitments, and requests are thought to have enhanced Africa’s influence in global discussions.
- It advocates for changes to international financial systems, including strong calls for debt relief and restructuring of existing debts.
- It emphasizes the potential for green investment in Africa’s emerging blue and green economies.
- It encourages global leaders to support a proposed carbon tax on fossil fuel trade, maritime transport, and aviation.
Source: The Hindu | Down to Earth
Previous Year Question
With reference to the ‘New York, Declaration on Forests’, which of the following statements are correct?
1. It was first endorsed at the United Nations Climate Summit in 2014.
2. It endorses a global timeline to end the loss of forests.
3. It is a legally binding international declaration.
4. It is endorsed by governments, big companies and indigenous communities.
5. India was one of the signatories at its inception.
Select the correct answer using the code given below.
[UPSC Civil Services Exam – 2020 Prelims]
(a) 1, 2 and 4 only
(b) 1, 3 and 5 only
(c) 3 and 4 only
(d) 2 and 5 only
Answer: (a)
Explanation:
The New York Declaration on Forests is a non-legally binding political declaration. Hence statement 3 is not correct. India is not a signatory of the declaration. Hence statement 5 is not correct.
