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...

A simulation model of international tourist flows is used to estimate the impact of a carbon tax on aviation fuel. The effect of the tax on travel behaviour is small: A global $1000/tC would change travel behaviour to reduce carbon dioxide emissions from international aviation by 0.8%. This is...