IMF's Lagarde: We're cooked if we fail to urgently address climate change.

International Monetary Fund chief Christine Lagarde says failure to take urgent action on global warming will condemn humanity to the same fate as the Peruvian poultry that so many at the group's annual meeting are enjoying this week in a country famed for its cuisine.

Said Lagarde: "If we collectively chicken out of this we'll all turn into chickens and we'll all be fried, grilled, toasted and roasted."

Her comments Wednesday came in a discussion involving World Bank President Jim Kim and U.N. climate talks chief Christiana Figueres.

Lagarde and Kim argued strongly for removing subsidies on fossil fuels that are worth more than $5 trillion a year and on the immediate need for carbon taxes so that the burning of fossil fuels can fund clean energy replacements.