A new study suggests of earth's mercury further rising by four degrees at the turn of the current, which according to the World Bank would lead to catastrophic events mostly affecting low-lying countries and their poverty-stricken inhabitants.
The new World Bank-commissioned report from Climate Analytics and the Potsdam Institute for Climate Impact Research in Germany has indicated that global temperature will most likely shoot up by another four-degrees in the lead-up to 2100 on top of the 0.8 degrees Celsius rise beyond pre-industrial levels.
The same report painted a bleak picture, pointing out that even if governments around the world would meet their preset targets of carbon emission the chances of global warming further worsening remains relatively high at 20 per cent.
And if the global target falls short, the planet's temperature spikes would be greatly advanced by 40 years and their effects likely to be felt by vulnerable nations as early as 2060.
In such event, extreme weather patterns will be witnessed, in which coastal cities would be eaten by rising sea level and on the other end devastating droughts, like the one that hit Russia in 2010, would become a yearly cycle.
That episode alone led to thousands of death and up to $US15 billion in losses, according to The Financial Times.
It is expected that global food production and supply would be severely impacted by higher global temperature, according to World Bank president Kim Jim Yong, stressing that "a four-degree warmer world can and must be avoided. We need to hold warming below two degrees."
Mr Kim also pointed to the "lack of ambitious action on climate change (that) threatens to put prosperity out of reach of millions and roll back decades of development."
"The time is very, very short. The world has to tackle the problem of climate change more aggressively," the World Bank chief was reported by the Australian Associated Press (AAP) as saying on Sunday.
He lamented too that disasters like flooding leave the poor most susceptible to water-borne diseases, further highlighting his concern that "we will never end poverty if we don't tackle climate change. It is one of the single biggest challenges to social justice today."
The new report prompted the United Nations to call on governments around the world to push harder with their earlier commitment of forging a common climate deal by 2016 in light of dissents emerging from some sectors in countries like Australia and the United States.
Here, the Coalition has vowed to repeal the carbon tax passed and implemented July this year by the Labor-led, insisting that the measures spawned an unfriendly business environment and added up to the financial woes of Australian households.
Speaking to reporters on Monday, Opposition Leader Tony Abbott reiterated his stance against Labor's carbon pricing, which he described "a really counter-productive policy."
Mr Abbott asserted too "that there has been a very consistent level of opposition to the carbon tax."