To tackle climate change globally, countries need to work together but also take their own actions to cut greenhouse gas emissions. Traditional rules and standards won't be enough to reduce emissions effectively. That's why experts are looking more at using money to control pollution, like carbon taxes or cap-and-trade systems. These methods can help reduce emissions from different sources more efficiently and fairly. The main options for carbon pricing include carbon taxes, cap-and-trade, emission reduction credits, clean energy standards, and cutting fossil fuel subsidies.