The research investigates the effectiveness of market-based policy instruments, like carbon taxes and eco-friendly innovations, in reducing global emissions and achieving climate change mitigation targets set for 2030.
It focuses on 15 EU countries from southern and western regions, analyzing data from 2000 to 2018 using advanced statistical methods to understand the relationships between emissions, economic activities, and environmental policies.
Findings reveal that while carbon taxes are effective in the short term for emission reduction, a long-term focus on eco-innovations and a shift to green energy are essential for sustainable development and achieving climate goals by 2030.