Application of economic instruments in environmental policy: Analysis and implications

Abstract

Economic instruments of environmental policy represent different methods and mechanisms that states and organizations use to achieve the goals of environmental protection. In modern conditions, a combination of different economic instruments is increasingly used in order to achieve an efficient and sustainable environmental policy that balances economic interests with environmental protection. Economic instruments of environmental policy play an important role in achieving sustainable development, and their main task is to ensure adequate valorization of environmental resources with the aim of promoting their efficient use and allocation.