When the history of global warming is written, 2007 will stand out as the turning point. That was the year several reports on climate change were released, there was a deal of sorts at Bali and for the first time, climate change became a mainstream issue. More from Friends of the Earth director Tony Juniper in The Guardian.

According to Juniper, there is a lack of political will to tackle the issue. Maybe, but the problem is not going away with Munich Re, the world's second-biggest reinsurance group, announcing that the cost of natural disasters had spiked this year with the most severe events in terms of insured losses occurring in Europe.

According to the comparison table, insured losses this year doubled to $30 billion.

And if you think this is not your problem, think again. According to Munich Re board member Torsten Jeworrek says, it will result in higher insurance premiums or taxes to pay for infrastructure repairs.