The world has precisely 12 years left to ensure it does not head into a climate disaster, according to a report published inter-governmental panel on climate change (IPCC). The IPCC report said that the earth's average temperature has already increased by nearly 1 degree since preindustrial times, and that rise is contributing to extinctions, lower crop yields and more frequent wildfires.

The IPCC report 2018 has sent a precise warning to the governments across the globe, to limit the temperature increase to 1.5 degree Celsius above pre-industrial levels. To meet that target, global carbon emissions need to drop by as much as 45 percent by 2030.

It is also a fact that after years of talks no country has been able to de-link its growth from CO2 emissions. No country, as yet, has demonstrated how to build a low carbon economy. No country has been able to re-invent its pathway to growth without fossil fuel.

So imagine the challenge in front of the 200 odd nations which met in Poland, Katowice, for the UN Climate Change meet known as COP 24. CNBC-TV18 caught up with experts to try and simplify what was achieved at this meeting and also understand the significance of it for a developing country like ours.