Paleoclimate data show that climate sensitivity is ~3 °C for doubled CO₂, including only fast feedback processes. Equilibrium sensitivity, including slower surface albedo feedbacks, is ~6 °C for doubled CO₂ for the range of climate states between glacial conditions and ice-free Antarctica. Decreasing CO₂ was the main cause of a cooling trend that began 50 million years ago, the planet being nearly ice-free until CO₂ fell to 450±100 ppm; barring prompt policy changes, that critical level will be passed, in the opposite direction, within decades. If humanity wishes to preserve a planet similar to that on which civilization developed and to which life on Earth is adapted, paleoclimate evidence and ongoing climate change suggest that CO₂ will need to be reduced from its current 385 ppm to at most 350 ppm, but likely less than that. The largest uncertainty in the target arises from possible changes of non-CO₂ forcings. An initial 350-ppm CO₂ target may be achievable by phasing out coal use except where CO₂ is captured and adopting agricultural and forestry practices that sequester carbon. If the present overshoot of this target CO₂ is not brief, there is a possibility of seeding irreversible catastrophic effects.