PNNL

Abstract

We explore the implications of potentially perverse greenhouse gas mitigation responses to carbon prices and the complications that could ensue for limiting radiative forcing in the near-term. Specifically we consider the problem of reproducing the radiative forcing pathway for Representative Concentration Pathway, RCP4.5, which stabilizes radiative forcing at 4.5 Wm-2 (650 ppm CO2-e) under a different terrestrial policy assumption. We show that if indirect land-use change emissions are not priced, carbon prices that can replicate this pathway in the near-term may not exist. We further show that additional complexities could emerge as a consequence of the co-production of CO2 and sulfur emissions as byproducts of fossil fuel combustion.