COVID-19 recovery packages can benefit climate targets and clean energy jobs, but scale of impacts and optimal investment portfolios differ among major economies

AUGMECON-Py: A Python framework for multi-objective linear optimisation under uncertainty

“…This way, the user can run the model under different scenarios by flexibly altering the model's input data and choose between different data output formats to analyse the results. AUGMECON-Py has already been used successfully to support low-carbon investment decisions [49] and can be further used in fields where stochastic uncertainty is significant. Future implementations of the algorithm can focus on implementing parallelisation methods (i.e., multiprocessing, multithreading) to further increase the solving speed of the algorithm while retaining the current levels of software usability.…”

“…AUGMECON-Py has recently been used in Van de Ven et al (2022) [49] to perform portfolio analysis for the optimal allocation of COVID-19 recovery packages towards clean energy infrastructure in multiple countries.…”

“…Here, a problem of selecting among the optimal combinations of several technology options under different subsidy levels is presented. This numerical example draws from data and the problem statement presented in [49] and aims to highlight the applicability and added value of AUGMECON-Py in a problem which is highly relevant for the selection of low-carbon technology investments. In particular, 100 mutually exclusive subsidy level options of eight technologies (decision variables) are examined.…”

From least cost to least risk: Producing climate change mitigation plans that are resilient to multiple risks

“…There is a deep legacy of modeling tools such as IAMs, which-although being developed in new directions at rapid pace-nevertheless still predominantly stem from least-cost optimization roots (Wilson et al, 2021). Recent approaches such as stochastic optimization (Nikas et al, 2019;Grant et al, 2021) or use of multiple criteria are allowing the exploration of least regrets pathways as well as those that simultaneously fulfill multiple criteria, such as employment increases (van de Ven et al, 2022), reduced inequality (Ferrari et al, 2022), or the achievement of sustainable development goals (van Soest et al, 2019;Fujimori et al, 2020). But it seems very possible that-given the ease with which least-cost pathways still get produced-they could continue to dominate the scenario space.…”

Ways to promote intra-regional trade and investment in Central Asia to boost the green recovery

“…Koasidis et al ( 2022 ) found that green recovery after COVID-19 needs significant investment to boost renewable energy deployment and deteriorate carbon emissions. Ven et al ( 2022 ) argued that optimal investment portfolios require the realization of green recovery in the post-COVID era.…”