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Leaders gathered in the Davos are pushing for nations worldwide to shift to cleaner energy sources. Clean energy is considered the best way to contain global warming and re-energize the global economy.

According to the UN's climate chief, the world economy is at risk if nothing is done to curb carbon emissions. She says a binding deal needs to be agreed to at the next climate talks in Paris in 2015.

Scientists say climate change, caused by human activity, is likely to worsen starvation, poverty and weather disasters. Although the global economy may continue to grow, scientists warn that a rise in temperatures of 3 degrees Fahrenheit could lead to worldwide economic losses of 2.0 percent of global GDP.