We studied the physiological response of phytoplankton to the interacting effects of 3 factors affected by global climate change: CO 2 , nutrient loading and irradiance. Treatments had a high and low level for each factor: CO 2 was bubbled at 1000 ppm by volume versus present atmo spheric values; high nutrient treatments had a combination of inorganic and organic nutrients; and light treatments were obtained by covering the tanks with a single or double layer of screen. We measured esterase activity, oxidative stress (ROS), cell death, DNA damage, photosynthetic efficiency and 14 C assimilation as particulate or dissolved organic material (POC and DOC respectively). Conditions simulating future global change scenarios showed similar chlorophyllnormalized primary productivity as present conditions. The main effect driving phytoplankton physiology was the downregulation of the photosynthetic apparatus by elevated CO 2 , which decreased esterase activity, ROS, cell death and DNA damage. Nutrient concentration and light acted as additional modulators, upregulating or contributing to downregulation. The percentage of DO 14 C extracellular release (PER) was low (0 to 27%), significantly lower under ultraviolet radiation (UVR) than under photosynthetically active radiation (PAR), and acted mainly to reequilibrate the internal balance when cells grown under UVR were exposed to PAR. PER was almost 3 times lower under high CO 2 , confirming a higher resource use efficiency of phytoplankton under future CO 2 concentrations.