This paper investigates the cost-effectiveness of operation strategies which can be used to abate CO 2 emissions in a local multi-energy system. A case study is carried out using data from a real energy system that integrates district heating, district cooling, and electricity networks at Chalmers University of Technology. Operation strategies are developed using a mixed integer linear programming multi-objective optimization model with a short foresight rolling horizon and a year of data. The cost-effectiveness of different strategies is evaluated across different carbon prices. The results provide insights into developing abatement strategies for local multi-energy systems that could be used by utilities, building owners, and authorities. The optimized abatement strategies include: increased usage of biomass boilers, substitution of district heating and absorption chillers with heat pumps, and higher utilization of storage units. The results show that, by utilizing all the strategies, a 20.8% emission reduction can be achieved with a 2.2% cost increase for the campus area. The emission abatement cost of all strategies is 36.6–100.2 (€/tCO 2 ), which is aligned with estimated carbon prices if the Paris agreement target is to be achieved. It is higher, however, than average European Emission Trading System prices and Sweden’s carbon tax in 2019.