While this is better than doing nothing, I don't think it's enough. We're passed the phase where we should do stuff on 30-year timelines. It's just not going to cut it.
Yes, I know that they can't just shut down the oil industry overnight - but governmenst need to set incentives more aggressively to move away from oil and coal energy, non-electric transportation and using animals in food production. At the same time, they need to stop subsidizing these (the EU is spending a quarter of their budget for direct livestock farm subsidies).
Such a course might seem expensive and disruptive, but the alternative (business-as-usual) will be significantly more expensive and disruptive.