Fast action needed to avoid climate chaos - study

Global temperature rises due to climate change could be kept below the critical two degree mark by fast international action to cut greenhouse gas emissions by 70 per cent by 2030, according to a report said on Monday.

Scientists say that if temperatures increase beyond two degrees, humanity faces severe environmental fallout, such as melting polar ice caps and rising sea levels.

Increasing numbers of scientists and politicians question whether the two degrees goal is achievable, given the slow progress of international negotiations so far.

But it is not too late to avert dangerous climate change, said the report by consultancy McKinsey and backed by ten organisations including energy companies, Enel, Vattenfall and Royal Dutch Shell.

"Achieving the deep emissions cuts required to keep global warming below the two degrees limit is possible but difficult," said McKinsey director Tomas Naucler.

Global investment of €530 billion would be needed by 2020, and €810 billion by 2030, the report added.