I think this is a fair point, but are there perhaps compromises where quality of life doesn't have to go down? Solar panels on homes with government subsidies where fossil fuels are still heavily used for electricity. Investments (BIG ones) in public/metro transportation.
I agree with human psychology being a limiting factor here, but I think there are also ways we can work with it, by saying that life quality doesn't have to go down or can even improve, rather than the current all or nothing approach.
I don't see a way to halt, much less reverse, global climate change without making massive sacrifices to the quality of life people enjoy in developed countries.
We will pay the money it takes to protect our cities from floods and cool our buildings and deal with the other impacts, and people in poor countries will be left to deal with the problem on their own. That's not what should happen, but that's what will happen.
I agree with human psychology being a limiting factor here, but I think there are also ways we can work with it, by saying that life quality doesn't have to go down or can even improve, rather than the current all or nothing approach.