Over at Heresy Corner, it is alleged that "achieving "climate security", a state in which the climate doesn't change, or at least not enough to disrupt the global status quo, is impossible".
Impossible if you put it in those terms. On the other hand it is not impossible to decarbonise the world energy system, using energy conservation, renewables and HVDC distribution grids. This will also mitigate the effects of Peak Oil. It is also possible to draw down CO2 already in the atmosphere, using ecologically and socially well-designed reforestation, ocean fertilisation and other methods.
This would be a gargantuan task, but this itself would provide exactly the stimulus that the world needs to recover from the (probably) imminent recession. It needs to be viewed as an investment, and Nicolas Stern has outlined the kind of return that we can expect. If the banks will not create the money for this project, then Governments have the ability to provide it directly through zero- or low-interest loans.