Using economic instruments
Description
Using economic instruments involves applying financial tools—such as taxes, subsidies, tradable permits, and pricing mechanisms—to influence behavior and resource use towards desired outcomes. This strategy aims to correct market failures, internalize external costs, and incentivize sustainable practices. By aligning economic incentives with environmental and social objectives, economic instruments provide practical remedies to issues like pollution, overconsumption, and resource depletion, encouraging more efficient and responsible decision-making among individuals, businesses, and governments.
Broader
Narrower
Facilitated by
Problem
Value
SDG
Metadata
Database
Global strategies
Type
(C) Cross-sectoral strategies
Subject
- Amenities » Instruments
- Economics » Economic
Content quality
Yet to rate
Language
English
1A4N
J2655
DOCID
12026550
D7NID
206261
Editing link
Official link
Last update
Dec 3, 2024