Is the climate warming or cooling?

Numerous websites, blogs and articles in the media have claimed that the climate is no longer warming, and is now cooling. Here we show that periods of no trend or even cooling of the globally averaged surface air temperature are found in the last 34 years of the observed record, and in climate model simulations of the 20th and 21st century forced with increasing greenhouse gases. We show that the climate over the 21st century can and likely will produce periods of a decade or two where the globally averaged surface air temperature shows no trend or even slight cooling in the presence of longer-term warming.