evidence: Despite a best estimate of climate sensitivity a tad lower than the 3C used today, the FAR overestimated the rate of warming between 1970 and 2016 by around 17% in their BAU scenario, showing 1C warming over that period vs 0.85C observed. This is mostly due to the projection of much higher atmospheric CO2 concentrations than has actually occurred. [...] Global surface air temperatures in CMIP5 models have warmed about 16% faster than observations since 1970. About 40% of this difference is due to air temperatures over the ocean warming faster than sea surface temperatures in the models; blended model fields only show warming 9% faster than observations. [...] Climate models published since 1973 have generally been quite skillful in projecting future warming. While some were too low and some too high, they all show outcomes reasonably close to what has actually occurred, especially when discrepancies between predicted and actual CO2 concentrations and other climate forcings are taken into account.