Building a more predictive trait-based ecology requires mechanistic theory based on first principles. We present a general theoretical approach to link traits and climate. We use plant leaves to show how energy budgets (i) provide a foundation for understanding thermoregulation, (ii) explain mechanisms driving trait variation across environmental gradients, and (iii) guide selection on functional traits via carbon economics. Although plants are often considered to be poikilotherms, the data suggest that they are instead limited homeotherms. Leaf functional traits that promote limited homeothermy are adaptive because homeothermy maximizes instantaneous and lifetime carbon gain. This theory provides a process-based foundation for trait-climate analyses and shows that future studies should consider plant (not only air) temperatures.
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