I've said this again and again—the only rational step is to directly subsidize poorer countries to not build coal plants and, in fact, replace them with more expensive but less destructive generation (inlcluding, say, battery farms, nuclear power, hydro, etc, that can properly address off-hour usage).
And of course the devil would be in the details, and it'd probably look messy and ugly. But I just cannot conceive of it being messier and uglier than the future we're staring down the barrel of.
I think the biggest barrier to this is not any rational problem that might be individually addressed but America's embarrassment at likely losing hegemony in the event we collectively manage to survive this catastrophe without mass death and the four horsemen. Really, refusing to stop global warming is a path towards retaining hegemony by taking advantage of future chaos as we have of past chaos. Everyone knows we have massive farmlands and water sources, enough to support our own people probably many many times over, and others do not have this luxury.
Excluding China global coal consumption would be down significantly, and they are quickly bringing alternatives online.
Exported coal meanwhile is fighting heavy transportation costs which only go up as demand starts to fall off. So, while they had very slow growth over the last decade that’s balanced on an economic knife edge. Most industry experts are just trying to decide how quickly things drop off not if they will.