Multiple policy tools are needed to achieve the Sustainable Development Goals (Zabala in Nat Sustain 4:565–566, 2021). In the pursuit of sustainability, economic instruments such as taxes, subsidies, and tradable permits have been widely utilized. However, their effectiveness has proven to be limited in certain scenarios. For example, in some regions, despite the presence of financial incentives like tax breaks for purchasing energy-efficient appliances, the adoption rate has been disappointingly low. This can be attributed to a lack of consumer awareness regarding the long-term benefits and functionality of such products. In other cases, even with significant subsidies for renewable energy projects, bureaucratic hurdles and complex administrative procedures have deterred potential investors.