The Information is beautiful blog has done a great graphic to explain the carbon budget we have:
Global Emissions Gap Scoreboard
If we examine the stated commitments of the Copenhagen accord as per June 29 2011 proposals the emissions gap will result in 4.1 degrees C average global warming by 2100. The pledges have reduced business as usual projections by 0.7 degrees from 4.8 degrees C by 2100. The gap is still substantial. See for yourself on the Climate Interactive scoreboard below: The United Nations Framework Convention on Climate Change (UNFCC) made a commitment at Copenhagen in December 2009 and reaffirmed at Cancun in December 2010 to limit global warming to 1.5 to 2 degrees C temperature goal. But current emission reduction pledges falls far short of achieving this goal according to the United Nations Environment Program Emissions Gap Report. 
Images from a presentation by Pablo Salon, Ambassador of Bolivia, at UN climate talks in Germany June 2011. See Ambassador of Bolivia on UN climate talks in Germany on ClimateIMC
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