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The current nationally determined contributions, pledged by the countries under the Paris Agreement, are far from limiting climate change to below 2 ∘C temperature increase by the end of the century. The necessary ratcheting up of climate policy is projected to come with a wide array of additional benefits, in particular a reduction of today's 4.5 million annual premature deaths due to poor air quality. This paper therefore addresses the question how climate policy and air pollution–related health impacts interplay until 2050 by developing a comprehensive global modeling framework along the cause and effect chain of air pollution–induced social costs. We find that ratcheting up climate policy to a 2 ∘ compliant pathway results in welfare benefits through reduced air pollution that are larger than mitigation costs, even with avoided climate change damages neglected. The regional analysis demonstrates that the 2 ∘C pathway is therefore, from a social cost perspective, a "no-regret option" in the global aggregate, but in particular for China and India due to high air quality benefits, and also for developed regions due to net negative mitigation costs. Energy and resource exporting regions, on the other hand, face higher mitigation cost than benefits. Our analysis further shows that the result of higher health benefits than mitigation costs is robust across various air pollution control scenarios. However, although climate mitigation results in substantial air pollution emission reductions overall, we find significant remaining emissions in the transport and industry sectors even in a 2 ∘C world. We therefore call for further research in how to optimally exploit climate policy and air pollution control, deriving climate change mitigation pathways that maximize co-benefits. [ABSTRACT FROM AUTHOR]

Coal-fired energy generation is the backbone of India's power sector and considered a driver of its economic development. However, it is associated with detrimental environmental and health impacts in India and its fleet is currently struggling with overcapacity and inefficiency problems. One solution to address these challenges is the early retirement of some of India's coal-fired power plants. In this paper, we introduce multidimensional indices that identify plants for retirement based on comprehensive criteria that include technical and economic characteristics of plants as well as their environmental impacts. We implement an ensemble approach, where we formulate 8008 indices based on all possible combination of seven relevant parameters and rank plants accordingly. This approach facilitates a comprehensive analysis of the plants' performance on different parameters and provides a new outlook on plant retirements that differs from the common approach of retiring plants based solely on technical characteristics such as age, capacity, and heat rate. Our results show that top plants recommended for early retirement are typically 7 years older, 13% more expensive and have around 40% higher population exposure to emissions compared to an average plant in India. We estimate the potential costs saved from the retirement of the worst-performing 50 GW of generating capacity to be $21 billion resulting from shifting ownership towards a cheaper cost of capital and replacing coal by more competitive sources such as solar power. • Identify plants for early retirement based on technical, economic and environmental indicators. • Worst performing 50 GW capacity are older, more expensive to operate and have higher population exposure. • Costs saved from retiring 50 GW capacity and replacing them with solar are $21 billion. • A multidimensional approach is essential for a politically feasible phaseout of coal. [ABSTRACT FROM AUTHOR]