Ligands play a crucial role in transition metal catalysis by modulating the electronic and steric environment around the metal center. The choice of ligands can influence the reactivity, selectivity, and stability of the catalyst. For example, phosphine ligands are often used to enhance the catalytic activity of palladium in cross-coupling reactions, while N-heterocyclic carbenes (NHCs) provide robust and versatile coordination environments for a variety of metals.