The most important component of a strategy to reduce CO2 emissions is a carbon tax, which is economically equivalent to a cap-and-trade system. However, people involved in tech seem to be especially prone to what I call a "problem solving" bias: discrete problems require discrete solutions, and we just have to figure out if the right solution is solar, nuclear, or the Savory Institute. The (correct) economic point of view is that there are many possible solutions, and a carbon tax properly incentivizes implementing all of them.
On the issue of China, because their per capita emissions are so low, and any reasonable global cap and trade system would allocate CO2 emissions rights to countries on a per-capita basis (or at least per-capita indexed to some base year like 1960), China is not actually the bad guy, and under a fair cap and trade system they would be net sellers of CO2 credits not the other way around. However too many people are blinkered by anti-Sinitism to accept this fact.
I believe that the idea that China is obstructing a global carbon tax (among supporters of such a tax) mainly comes from racism and is not supported by the facts. However, people oppose global/national carbon taxes for a number of reasons unrelated to racism. I'm not sure why you are concerned with the authority to levy a carbon tax, since (1) such a tax would almost certainly be beneficial and (2) politicians already have essentially unlimited legal authority to raise taxes of any sort.
Why? I mean, as a moderate libertarian, I do tend to be suspicious of any proposal to give politicians more power, but given that sooner or later we are going to have to reduce carbon dioxide emissions, surely the best way is to levy a carbon tax and let the market find the most efficient ways to do the reduction?
On the issue of China, because their per capita emissions are so low, and any reasonable global cap and trade system would allocate CO2 emissions rights to countries on a per-capita basis (or at least per-capita indexed to some base year like 1960), China is not actually the bad guy, and under a fair cap and trade system they would be net sellers of CO2 credits not the other way around. However too many people are blinkered by anti-Sinitism to accept this fact.