Optimal Resource Allocation for Carbon Mitigation

Climate change threatens economic and environmental stability requires immediate action to prevent counteract its impacts. As large investments are already going into mitigation efforts, it is crucial know how best allocate them in time among the alternatives. In this work, we tackle problem using optimal control methods obtain temporal profiles of their allocation either clean energy development or carbon removal technologies expansion. The aims minimize both abatement damage costs for various scenarios policies, considering optimization horizon. results show that early a larger share demand satisfied by should be priorities any economically successful plan. Moreover, less stringent constraints on budgets reduced discounting future utility needed more environmentally sustainable pathway.