This research work provides a strategic analysis of the implications of carbon pricing mechanisms for global environmental sustainability and economic growth. This work conducts an orderly review of literature and content analysis in formulating findings from published peer-reviewed journals, reports, and policy releases between the time frame 2010 and 2024. The goal is to find out if carbon pricing works to lower greenhouse gas emissions, to investigate the economic effects of such pricing, to investigate the environmental benefits of such pricing, and to understand why countries need to work together to make carbon pricing strategies more effective. Through the utilization of a stringent search approach that is directed by specific inclusion and exclusion criteria, the research strategy guarantees that the data that is being reviewed is not only pertinent but also of high quality. It is clear from the findings that carbon pricing regimes such as cap-and-trade and carbon taxes are of critical significance in terms of bringing about economic transformation, fostering growth, and combating climate change concerns. According to the most important findings, carbon pricing has the potential to effectively promote the development of environmentally friendly technology, solve issues of social justice, and emphasize the importance of global policy cooperation to handle challenges such as competition and carbon leakage across international borders. Policymaker proposals stress the need for international cooperation, the need for complete solutions combining carbon pricing with comprehensive economic and environmental policies, and the need for continuous research to improve carbon pricing models and strategies. This study improves the present conversation on carbon pricing by offering an understanding of its possible role as a basic component of sustainable economic policy and world climate governance.