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The post-2012 climate policy framework needs a global commitment to deep greenhouse gas emission cuts. This paper analyzes reaching ambitious emission targets up to 2050, either ‐10% or ‐50% from 1990 levels, and how the economic burden from mitigation efforts could be equitably shared between countries. The scenarios indicate a large low-cost mitigation potential in electricity and industry, while reaching low emission levels in international transportation and agricultural emissions might prove difficult. The two effort sharing approaches, Triptych and Multistage, were compared in terms of equitability and coherence. Both approaches produced an equitable cost distribution between countries, with least developed countries having negative or low costs and more developed countries having higher costs. There is, however, no definitive solution on how the costs should be balanced equitably between …