A revenue neutral (no administrative cost retention) carbon tax on fossil fuels levied at the well/mine head set to capture the costs inflicted by increased atmospheric/seawater CO2 would go a long way to reduce CO2 emissions. Two corollary measures 1) a carbon content tax on imported goods to prevent export of domestic industry and to encourage carbon reduction by foreign governments and 2) a refundable/tradable tax credit for carbon sequestration would go a long way to reduce global warming/climate change.
A great advantage would be reaching current activities by motivating us to adopt new but more efficient devices and practices. It would also free up industry and individuals to adopt the most efficient solutions for them. The credit would provide a real incentive for the ingenious. Low tech such as cover crops or managed grazing could earn money for farmers etc.