The various economic strategies that can be used for protecting the environment are discussed in this article. Any nation's ability to develop sustainably rests on its ability to protect its natural systems and keep the environment at an adequate level. The article explores the evolution of new ideas in sustainable development, the history of the economic concept, and how it affects environmental issues. Among the economic strategies covered are subsidies, environmental fees, emissions trading, environmental taxes, and others. The research paper additionally analyses the significance of impact assessments and environmental audits in guaranteeing the efficacy of economic strategies for environmental protection.