If the world’s governments, particularly those in developing countries, continue to increase their reliance on coal and other fossil fuels, “we are finished.”

That was the sobering assessment of World Bank Group President Dr. Jim Yong Kim during his opening statement Thursday at the World Climate Summit in Washington.

The two-day gathering, called “Climate Action 2016,” is bringing together more than 700 corporate executives, government officials, academics and philanthropists. It is described by organizers as “the most significant gathering of sub-national and non-governmental leaders on global climate action this year.”