The effects of elevated growth temperature (ambient + 3.5 o C) and CO 2 (700 µmol mol −1 ) on leaf photosynthesis, pigments and chlorophyll fluorescence of a boreal perennial grass (Phalaris arundinacea L.) under different water regimes (well watered to water shortage) were investigated. Layer-specific measurements were conducted on the top (younger leaf) and low (older leaf) canopy positions of the plants after anthesis. During the early development stages, elevated temperature enhanced the maximum rate of photosynthesis (P max ) of the top layer leaves and the aboveground biomass, which resulted in earlier senescence and lower photosynthesis and biomass at the later periods. At the stage of plant maturity, the content of chlorophyll (Chl), leaf nitrogen (N L ), and light response of effective photochemical efficiency (Φ PSII ) and electron transport rate (ETR) was significantly lower under elevated temperature than ambient temperature in leaves at both layers. CO 2 enrichment enhanced the photosynthesis but led to a decline of N L and Chl content, as well as lower fluorescence parameters of Φ PSII and ETR in leaves at both layers. In addition, the downregulation by CO 2 elevation was significant at the low canopy position. Regardless of climate treatment, the water shortage had a strongly negative effect on the photosynthesis, biomass growth, and fluorescence parameters, particularly in the leaves from the low canopy position. Elevated temperature exacerbated the impact of water shortage, while CO 2 enrichment slightly alleviated the drought-induced adverse effects on P max . We suggest that the light response of Φ PSII and ETR, being more sensitive to leaf-age classes, reflect the photosynthetic responses to climatic treatments and drought stress better than the fluorescence parameters under dark adaptation. Abbreviations: Cars -carotenoid; Chl -chlorophyll; Chl a(b) -chlorophyll a(b); CON -ambient environment; EC -elevated CO 2 concentration; ET -elevated temperature; ETC -combination of temperature elevation and CO 2 enrichment; ETR -electron transport rate; F m -maximal chlorophyll fluorescence of dark-adapted state; F m ' -maximal chlorophyll fluorescence of light-adapted state; F 0 -minimum chlorophyll fluorescence of dark-adapted state; F 0 ' -minimum chlorophyll fluorescence of light-adapted state; F s -steady state fluorescence; F v /F m -maximal photochemical efficiency of PSII; g sat -light-saturated stomatal conductance; HW -high water level; LW -low water level; N L -leaf nitrogen; NW -normal water level; NPQ -nonphotochemical quenching; P max -maximum rate of photosynthesis; P N -net photosynthetic rate; PPFD -photosynthetic photon flux densities; PSII -photosystem II; q P -photochemical quenching; R D -dark respiration rates; RCG -Reed canary grass; Rubisco -ribulose 1,5-bisphosphate carboxylase/ oxygenase; RuBP -ribulose bisphosphate; α -apparent quantum yield; Φ PSII -the effective photochemical efficiency. Acknowledgments: This work was funded through the Finland Distinguished Professor Progra...