This is the third in a series of workshops aimed to inform research into the role of fossil fuels through the transition to a low carbon future. One of the main purposes of this workshop is to explore what would happen if all governments adopted policies that actually limited emissions to the level necessary to hit the 2 degrees Celsius target — for simplicity, we interpret this as all countries achieve the same emissions per capita by 2100 and each moves to that level in a linear progression from where they start today. This will be done through a simulation exercise using the Oxford Economic Model. We will be discussing the insights from the first iteration of this simulation, which was conducted at the previous workshop in The Hague..