If there is anything covid has taught me its that collective action isn't something we can rely on and is a lot more wishful thinking about the state of humanity rather than a sober look at the reality. Governments need to tax CO2 emissions on the business side and pour the money into carbon capture technology in the private space through investment and perhaps some sort of bounty program (you get $x for each ton you…
A 200% value-added tax on fossil fuels that rises by 10% every year would provide the capital.
EDIT: To clarify, this is not a suggestion to raise capital from the tax as much as it's to raise capital from the use of fossil fuels. It's a suggestion for an increasingly punitive financial cost to force behavioural changes.