Rising sea levels will result in tens to hundreds of millions more people flooded each year with a warming of 3 or 4°C. There will be serious risks and increasing pressures for coastal protection in South East Asia (Bangladesh and Vietnam), small islands in the Caribbean and the Pacific, and large coastal cities, such as Tokyo, Shanghai, Hong Kong, Mumbai, Calcutta, Karachi, Buenos Aires, St. Petersburg, New York, Miami and London.

We run enormous risks and we know what kind of reductions of greenhouse gases are necessary to drastically reduce risks. Reducing emissions by half by 2050 is roughly in the right ballpark. It would bring us below 550 ppm.

Failing to curb the impact of climate change could damage the global economy on the scale of the Great Depression or the world wars by spawning environmental devastation that could cost 5 to 20 percent of the world's annual gross domestic product.

Fortunately poorer countries, such as China, are showing leadership and beginning to demonstrate to the world how to invest in low-carbon growth.

The one way of guaranteeing to fail is to assume that we will.

A rise of 5C would be a temperature the world has not seen for 30 to 50 million years. We've been around only 100,000 years as human beings. We don't know what that's like.

The US will increasingly see the risks of being left behind, and ten years from now they would have to start worrying about being shut out of markets because their production is dirty.