The feasibility of low concentration targets: An application of FUND

This paper studies the feasibility of stringent targets for stabilizing ambient greenhouse gas concentrations using the FUND model. 170,000 policy scenarios were run, systematically varying the price of carbon, participation in climate policy, the strength of the climate feedback on the terrestrial carbon cycle, the no policy scenario, and the abatement costs. The results reveal the following. Climate policy has diminishing returns, and there is...