Unfortunately I think we are past the point of still being able to run on fossil fuels if excessive carbon dioxide is absorbed. There is already way too much CO2 in the atmosphere (along with other dangerous gases like methane) that we essentially need to stop burning fossil fuels immediately AND find a way to take these gases out of the atmosphere.
We should have started decades ago... but since we can't go back in time, we can only do the best we can... luckily lots of really smart people have figured out ways to transition lots of functions from fossil fuels, often in ways that create more jobs and opportunities for people. We just need to do the work.