Renewable energy and carbon dioxide capture and storage can cut carbon dioxide emissions, and negative emissions technologies are effective methods of carbon dioxide removal. The integration of the three is an important approach to mitigate surface temperature rise and achieve the climate change vision. This paper presents an improved algebraic targeting approach for multi-period energy planning integrating fossil energy, renewable energy, carbon capture and storage, and negative emission technologies. In this work, the risk hedging effect of negative emission technologies and the operational lifetime of carbon capture and storage are considered to reduce the amount of carbon capture and storage deployed. The approach can reduce the economic costs, environmental costs, and likelihood of stranded assets in low-carbon energy planning. This multi-period algebraic targeting approach is demonstrated through a case study. The results show that multi-period low-carbon energy planning can achieve better deployment of resources and technologies and reduce the pressure to reduce carbon emissions in the early stages of planning.