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Managed temperate grasslands occupy 25% of the world, which is 70% of global agricultural land. These lands are an important source of food for the global population. This review paper examines the impacts of climate change on managed temperate grasslands and grassland-based livestock and effectiveness of adaptation and mitigation options and their interactions. The paper clarifies that moderately elevated atmospheric CO2 (eCO2) enhances photosynthesis, however it may be restiricted by variations in rainfall and temperature, shifts in plant's growing seasons, and nutrient availability. Different responses of plant functional types and their photosynthetic pathways to the combined effects of climatic change may result in compositional changes in plant communities, while more research is required to clarify the specific responses. We have also considered how other interacting factors, such as a progressive nitrogen limitation (PNL) of soils under eCO2, may affect interactions of the animal and the environment and the associated production. In addition to observed and modelled declines in grasslands productivity, changes in forage quality are expected. The health and productivity of grassland-based livestock are expected to decline through direct and indirect effects from climate change. Livestock enterprises are also significant cause of increased global greenhouse gas (GHG) emissions (about 14.5%), so climate risk-management is partly to develop and apply effective mitigation measures. Overall, our finding indicates complex impact that will vary by region, with more negative than positive impacts. This means that both wins and losses for grassland managers can be expected in different circumstances, thus the analysis of climate change impact required with potential adaptations and mitigation strategies to be developed at local and regional levels. © 2019 by the authors. This work has been supported by the Filling the Research Gap program funded by The Australian Government's Department of Agriculture andWater Resources, Meat and Livestock Australia, and Australian Wool Innovation. BC3 research is supported by the Basque Government through the BERC 2018-2021 program and by Spanish Ministry of Economy and Competitiveness MINECO through BC3 Maria de Maeztu excellence accreditation MDM-2017-0714.