The latest Climate Commission report has warned that 80 percent of global fossil fuel reserves will have to stay in the ground if the planet is to avoid dangerous climate change.
The paper says global emissions need to trend downward by the end of the decade to keep temperatures at a "manageable" level.
Professor Will Steffen, a climate commissioner who co-authored the report, says reaching the goal will be a challenge, given greenhouse gas concentrations are now at the highest level on record.
"We have to get global emissions trending downward by the end of the decade to have any reasonable chance of meeting that 2 degree target. We need to make the right investment decisions," he said.