The United Nations Intergovernmental Panel on Climate Change today released its third and final summary on the state of climate change. The report [1], entitled Summary for Policymakers: mitigation of climate change, outlines what the problem is, how we should be dealing with it and how much it's going to cost.

The report concludes [2] that the cost of reducing CO2 emissions to a stable level will be about .12% of the annual gross domestic product.

According to the Associated Press story [3] on the release, "The document made clear that the world has the technology and money to decisively act in time to avoid a sharp rise in temperatures that scientists say would wipe out species, raise ocean levels, wreak economic havoc and trigger droughts in some places and flooding in others."