Iceland has given a weather forecast for 2050 in order to highlight the effects of climate change. It comes ahead of a United Nations (UN) climate summit next week.

A new report by a commission of global leaders argues that major structural and technological changes in the world economy are making it possible to achieve lower carbon emissions and economic growth at the same time.

"Yes, it is possible to have better growth and better climate. Yes, it is possible to create jobs and reduce poverty and at the same time reduce the carbon emissions that threaten our future. Yes, it is possible, but we need to make some fundamental changes and smart choices" said former Mexican president, Felipe Calderón at a UN headquarters press conference.

Launching the 'Better Growth, Better Climate: the New Climate Economy' report alongside UN Secretary-General Ban Ki-moon, Mr Calderón said the new data refutes the idea that the world must choose between fighting climate change and growing the world's economy.

"The transition to a low carbon economy can improve the quality of growth, including the creation of new jobs, cleaner area and better health. A growing number of businesses, cities and countries are showing us it is indeed possible," Mr Calderón added.

The UN Secretary-General called the report timely, noting that greenhouse gas emissions are at record levels and the effects of climate change are not only widespread, but also costly and consequential.

"Scientists have long warned of the potential implications of climate change for economic growth. We can no longer afford to burn our way to prosperity. We must manage climate risk for sustained - and sustainable - economic progress. We need a structural transformation in the global economy," Mr Ban said.

The UN chief said he looked forward to next week's climate summit, where leaders from government, business, finance and civil society are expected to deliberate the challenges and deliver recommendations to promote low-carbon growth.