“Fit for 55” is not the last protein brand for middle-aged men. It's a new climate change reform package unveiled by the European Commission last Wednesday. It consists of 13 policy initiatives that aim to reduce emissions by 55% by 2030 versus 1990 levels, and then achieve carbon neutrality by 2050.

Carbon pricing addresses the tragedy of the commons: greenhouse gas emissions carry many external economic costs but individuals bear only a minor portion of them, while obtaining full benefit of fossil fuel consumption.

Imagine paying less if you choose to drive a Tesla or use a solar-powered heating system – what would you opt for? Carbon pricing policies are a successful enabler in addressing climate change because, in general, humans don’t like to pay extra charges.