This thesis presents an analysis of possible strategies and solutions that could help in reducing global emissions and fighting climate change, one of the most difficult challenges that humanity has ever faced. The work considers multifaceted strategies to achieve this goal, focusing in particular on innovative tools, strategies and technologies such as carbon markets, biofuels, and carbon capture technologies. First, microeconomic insights are used to derive the principle that decisions of parties responsible for greenhouse gases emissions should be aligned with the their true costs, i.e. a cost should be placed on the their harmful consequences. These ideas represent the foundations of current international climate regulations, of which an historical evolution is presented, highlighting the most important milestones.