Previous versions of the FUND model assumed, like many integrated assessment models, that the carbon cycle is independent of climate change. I here introduce a feedback through which warming leads to higher net emissions. This increases the atmospheric concentration of carbon dioxide in the year...

I study the feasibility of stringent targets for stabilizing ambient greenhouse gas concentrations. Climate policy has diminishing returns, and there is therefore a maximum to what can be achieved. The success of climate policy is hampered if the terrestrial biosphere turns from a carbon sink to...