On Monday the Intergovernmental Panel on Climate Change issued its latest report. The IPCC looked at keeping to a 1.5C rise above pre-industrial temperatures. Scientists say that we can still do it. But there's a lot of work to be done. It will need "rapid, far-reaching, and unprecedented changes in all aspects of society". It will also mean a major reallocation of funds. It will cost about 2.5% of global gross domestic product (GDP), every year for twenty years. But how is that going to happen? While the cost of wind turbines and solar panels have fallen, the global economy still relies on burning fossil fuels. Will politicians grasp the nettle and make the changes outlined in this report or will they, and we private citizens, ignore it and wait for disaster to strike? This week on The Real Story Ritula Shah looks at the economics and politics of climate change. Do developed countries have to give up growth to mitigate climate change? Can democracies sell the necessary sacrifices to their citizens? And will new technology save the day?

Image: A woman walking through floodwaters in front of the Grand Palace near the Chao Praya river in Bangkok in October 2011 (Credit: AFP/Getty Images)