Have you thought through the practical consequences of this idea?
When we stop using fossil fuels, a large number of jobs will just disappear forever and be replaced by nothing at all. We will simply have to consume a lot less fewer goods and services, and this will be good, because we'll have to go to a guaranteed basic income.
EXCEPT that your plan starts with dozens of trillions of dollars of giveaways to the ultra-rich, so there isn't any money for a guaranteed basic income. (The fossil fuel industry makes over $2 trillion a year, and we have at least 50 years of fossil fuels left.)
Have you thought through the moral implications of this idea?
Our society has been systematically looted by these billionaires over decades. Tens of trillions of dollars have gone from the pockets of the average person into the pockets of the 0.1%.
When I was young, it was possible for a man with only a high school diploma to get a job in a factory, support a stay-at-home wife and family, and retire on a comfortable pension. All gone, while meanwhile the ultra-rich live inconceivably wasteful lives.
And why are we in this crisis anyway? Because these same billionaire have prevented any action against them.
Now you want to beggar the world by bribing these evil psychopaths not to destroy our environment? (AND you trust them not to take the money, and continue burning fossil fuels anyway!, which based on our experience in the past, seems unlikely.)
It's a moral obscenity. Of course, there's a precedent for this in America, when slave owners were compensated for the loss of their property, but their slaves got nothing for generations of being treated like animals, but that was an abomination too, and one that directly lead to Jim Crow, and eventually the modern Republican party.
Here's my counter offer. If they give up their fossil fuels and most of their fortunes, the billionaires get to live. That's all they get. If they resist, they do not get to live.
Thanks for a polite response, even if I disagree with it 100%.