We investigated the feasibilities of 2.0°C and 1.5°C climate targets by considering the abatement potentials of a full suite of greenhouse gases, pollutants, and aerosols. We revised the inter‐temporal dynamic optimization model DICE‐2013R by introducing three features as follows. First, we applied a new marginal abatement cost curve derived under moderate assumptions regarding future socioeconomic development—the Shared Socioeconomic Pathways 2 (SSP2) scenario. Second, we addressed emission abatement for not only industrial CO₂ but also land‐use CO₂, CH₄, N₂O, halogenated gases, CO, volatile organic compounds, SO _x , NO _x , black carbon and organic carbon. Third, we improved the treatment of the non‐CO₂ components in the climate module based on MAGICC 6.0. We obtained the following findings: (1) It is important to address the individual emissions in an analysis of low stabilization scenarios because abating land‐use CO₂, non‐CO₂ and aerosol emissions also contributes to maintaining a low level of radiative forcing and substantially affects the climate costs. (2) The 2.0°C target can be efficiently reached under the assumptions of the SSP2 scenario. (3) The 1.5°C target can be met with early deep cuts under the assumption of a temperature overshoot, and it will triple the carbon price and double the mitigation cost compared with the 2.0°C case.