1. Introduction With 2023 becoming the warmest year on record, the urgency of actions to achieve the Paris Agreement goals on time has intensified (WMO, 2024). One of the main takeaways from the first Global Stocktake was that the “[…] Parties are off track when it comes to meeting their Paris Agreement goals” (UN, n.d.), necessitating an assessment of how to get the Parties back on track. Despite the collective efforts of state and non-state actors, global progress remains insufficient to achieve the 1.5 o C threshold (IEA, 2023; UNFCCC, 2023a). As per our assessment, the international community needs to rethink its approaches for achieving low-carbon emissions by focusing on sectors rather than countries. We see this as Pillar 1 of our joint proposal. Further, while the majority of current climate change financing goes towards mitigation, more financing is needed for innovation and climate change adaptation to enable systems transformation. New financing schemes constitute Pillar 2 of our proposal. Finally, we consider that the current model of climate governance not only lacks transparency, but its five-year Global Stocktake generates delays of awareness regarding whether we are on a track—this is something that we cannot afford, as it can make it more difficult to make timely adjustments. Therefore, Pillar 3 of our proposal recommends a new way to enforce actors’ compliance with the climate commitments in the form of a Digital Climate Accountability Framework.
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- India
