The system already exists, isn't it? The so called "cap and trade" https://ec.europa.eu/clima/policies/ets_en
But the cap is too high and the prices are too low. Would you accept it's ok to rebel to force the politicians to lower the cap?
But also, wouldn't a lower cap lead to the "drastic life style changes for people" anyway (at least in the short term while the economy adapts)?