The World Development Report 2010, published by the World Bank, emphasises the urgent need to tackle climate change. The authors stress that developing countries are likely to bear 75-80 per cent of climate change costs.

But as the poorest countries, they must not be asked to choose between economic growth and climate change. They need policies that enhance development, reduce vulnerability and finance a transition to low-carbon growth, says the report.

A 'climate-smart' world is possible if the global community acts swiftly to reduce emissions in the industrialised world as well as rapidly develop and deploy new clean energy technologies, argues the report.

Achieving this requires an equitable and effective global climate deal that helps developing countries access the funding they need to adapt to climate change and move towards low-carbon growth.