Climate Time Bomb Ticking, UN Says

Global warming will wreak devastation on economies and living standards around the world within 10 years unless nations take steps now to curb carbon emissions, a UN report warns. The report, the latest in a series of dire warnings from international agencies, is intended to spur action at next month's UN climate summit in Bali, Reuters reports.

"We could be on the verge of seeing human development reverse for the first time in 30 years," said the author. Developing nations would be especially hard hit. Current emissions from cars and power plants are about twice the level they should be, the report says. It recommends rich nations cut emissions 30% by 2020 and 80% by 2050 to hold down rising global temperatures.