With global temperatures already at 1.1 degrees Celsius above pre-industrial levels, urgent action is required to limit global warming to below 1.5 degrees Celsius to avert catastrophic climate impacts. This study advocates for the strategic implementation of carbon pricing, specifically through carbon tax and emissions trading systems, as a critical tool to curtail fossil fuel consumption and drive markets and industries towards clean energy solutions at an accelerated pace. By internalizing the external costs of carbon emissions, carbon pricing mechanisms create economic incentives that drive innovation, investment, and behavioral changes towards low-carbon alternatives. Through a comprehensive review of existing literature, policy analyses, and case studies, this research elucidates the potential of carbon pricing to reshape market dynamics and induce a systemic shift towards clean energy solutions.