We know already that CO2 and other gases cause climate change and we understand the mechanism. I think that most of us would probably also agree that the earth is a sufficiently complex system that predicting accurately what effects we will see when is impossible. We expect to see more droughts, bigger storms and rising sea levels - but we can't really predict very accurately how big those things will be when. By the time we have accurate models it will be too late.
We know that we need to act now. Understanding climate change is not the most important research out there; what's important is developing technologies and industries to reduce our emissions. That research would be what I fear losing.