Agreements reached in Cancun, Mexico, at the 2010 United Nations Climate Change Conference recognised the need for deep cuts in global GHG emissions in order to limit the global average temperature increase to 2 degrees Celsius (2 °C) above pre-industrial levels (UNFCCC, 2011a). A temperature increase of more than 2 °C is likely to push components of the Earth’s climate system past critical thresholds, or “tipping points” (EEA, 2010). Are current emission reduction pledges enough to stabilise climate change and limit global average temperature increase to 2 °C? If not, what will the consequences be?