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Abstract. Solar radiation management (SRM) has been proposed as a means to reduceglobal warming in spite of high greenhouse-gas concentrations and to lower the chanceof warming-induced tipping points. However, SRM may cause economic damages and itsfeasibility is still uncertain. To investigate the trade-off between these (economic) gains anddamages, we incorporate SRM into a stochastic dynamic integrated assessment model andperform the first rigorous cost–benefit analysis of sulfate-based SRM under uncertainty,treating warming-induced climate tipping and SRM failure as stochastic elements.We find that within our model, SRM has the potential to greatly enhance future welfare andmerits being taken seriously as a policy option. However, if only SRM and no CO2 abatement is used, global warming is not stabilised and will exceed 2 K.Therefore, even if successful, SRM can not replace but only complement CO2 abatement. The optimal policy combines CO2 abatement and modest SRM and succeeds in keeping global warming below 2 K.

Complementing CO&lt;sub&gt;2&lt;/sub&gt; emission reduction by solar radiation management might strongly enhance future welfare

Complementing CO<sub>2</sub> emission reduction by solar radiation management might strongly enhance future welfare