or 1.5oC. The safe carbon budget is lower if uncertainty about the transient climate response is high and risk tolerance …

The uncertainty surrounding both costs and benefits associated with global climate change mitigation creates enormous … hurdles for scientists, stakeholders, and decisionmakers. A key issue is how policy choices balance uncertainty about costs …

CCfDs and compare it to other carbon pricing regimes. In our model, a regulator can offer CCfDs to risk-averse firms that … decide upon irreversible investments into an emission-free technology in the presence of risk. Risk can originate from the … instrument as it hedges firms’ risk encouraging investments when the firms’ risk aversion would otherwise inhibit this. In …