https://www.sciencedirect.com/science/article/abs/pii/S22146...
I just don't buy the apocalyptic doomerism so breathlessly described in most books on global warming. When it gets bad enough, we will act. It won't be ideal, but there's no way we're just going to sit by, accept our fate and let the world burn.
It seems more likely we won't know the downsides until the damage is done, which is what happened with using fossil fuels in the first place.
Notwithstanding, this is already a solved problem for the long-run, just not the short-run. Renewables are heavily invested and improve in efficiency and cost perpetually. Battery/storage is also improving. Even previously non-abatable tech is starting to see emission-free innovation and nuclear is helping bridge the gap (or should). The issue is that demand for fossil fuels in East Asia is growing faster than innovation lowers it.
I agree however that we don't have time to wait for the downcurve to play out naturally through the market. Some level of policy may still be required to both limit fossil fuel use and accelerate adoption of alternatives. This is an imminent problem that will cost billions and some lives.