UN climate chief Christiana Figueres, reflecting the top billing that climate change has in Davos this year, said the world economy is at risk unless a binding deal is agreed in Paris in 2015 to lower heat-trapping carbon emissions from coal and oil.
"It is important that we get the treaty because the signal to the markets, the signal to the global economy, needs to be stronger than it is right now," she said in an Associated Press interview today.
Figueres says she sees "momentum growing toward this" as countries like China reduce coal use to clear polluted skies and Indonesia plants more trees to protect water resources, seeing that it's in their national interest to develop more sustainably.
Scientists say man-made climate change is likely to worsen starvation, poverty, lack of water, flooding, heat waves, droughts and diseases, raising the specter of more conflict and war, unless drastic action is taken to lower emissions of carbon dioxide from the burning of coal, oil and gas from their current trajectories.
South Korea's President Park Geun-hye told the forum it is a problem that will take creativity to overcome. "Climate change and environmental challenges are global in nature. As such the world must act as one in tackling them," she said.
Indian Finance Minister Palaniappan Chidambaram said he couldn't say whether his country would sign on to a treaty at this point. Developing economies can't be asked to shoulder most of the burden, he told reporters in Davos, and the enormous amount of financial support that rich industrialised nations promised in aid for adapting to a warmer world "is simply not forthcoming.