In 2015, the 21st Conference of the Parties reaffirmed the target of keeping the global mean temperature rise below 2 °C or 1.5 °C by 2100 while finding no consensus on how to decarbonize the global economy. In this regard, the speed of decarbonization reflects the (in)flexibility of...

Side-effects of "solar-radiation management" (SRM) might be perceived as an important metric when society decides on implementing SRM as a climate policy option to alleviate anthropogenic global warming. We generalize cost-risk analysis that originally trades-off expected welfare-loss from...

This article investigates the trade-off between increasing welfare losses and increasing peak-warming if a temperature target is reformulated as a subsidiary concentration or cumulative emissions target. We apply a welfare maximizing integrated assessment model for a deterministic...