I agree, and I think that what you said about the rate being incorrect is right. Pigovian taxes are great in models but extraordinarily difficult to implement. Measuring externalities, especially of something like carbon production, is a monumental task that economists in my opinion have been failing at. Another commenter linked a great analysis on how economists are drastically underestimating the economic effect of climate change (assuming 90% of GDP won’t be affected because its indoors!).

On the second point I somewhat disagree. The current inelasticity of demand is extremely important as climate change will become uncontrollable at longer timeframes. The current trend is not enough and not fast enough. I agree with the authors that Pigovian subsidies for renewables worldwide are necessary as soon as possible.