Volume V Issue III July-September 2025

Name of Author : Dr.Padma Hazarika

Title of the paper : The Role of Carbon Pricing in Mitigating Climate Change: A Comparative Study of Global Economies

Abstract: This study examined the role of carbon prices as a mechanism of preventing climate change by taking a comparative analysis of some global economies. The six countries covered by the research include the European Union, Canada, Sweden, China, India and South Africa and the study examines the manner in which various carbon prices systems namely, carbon taxes and emission trading systems ETS have been applied and the respective impact of these systems on minimizing the emission of greenhouse gases GHGs. Based on secondary data and applying the qualitative and descriptive analytical method, the research assesses the major dimensions, such as policy design, trends in the emissions, funds distribution, and effectiveness, in general. On the contrary, developing economies continue to make minimal changes because of institutional, economic and political impediments. The study emphasizes the fact that economic design is not the only factor affecting the success of the carbon pricing, but also governance ability, public support, and linking to other climate policies. Such revelations can guide policy-makers in improving carbon pricing strategies in order to achieve both environmental and socio-economic impacts in the global struggle to prevent climate change.

Keywords : Carbon pricing, climate change mitigation, carbon tax, emissions trading system (ETS), greenhouse gas emissions, global comparative analysis, environmental economics, revenue allocation, sustainable development.

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Page Number : 5-11