I wish people would be realistic and just admit that the tipping point for climate is in the past - because even if there was complete elimination of fossil fuel use in the next decade (highly unlikely), polar warming has resulted in permafrost melt, so that's going to keep dumping carbon to the atmosphere at a slow steady rate. At best, elimination of fossil fuels over the next 3-5 decades will only result in slower warming over the last few decades of the 21st century. We also haven't even come close to realizing warming from the past 5 decades, as the time-to-equilibrium for current forcing is ~100 years. This means a return to climate conditions last seen 3-5 million years ago, during the Pliocene.
Practically, this means as much will have to be spent on adaptation to new conditions as will have to be spent on transition to a non-fossil energy system.