Euro zone: What consequences if the energy transition accelerates under pressure from public opinion?

A segment of public opinion and young people in the euro zone are calling on governments to speed up the energy transition in order to meet the international climate agreements. What would happen if they did ? There would be a high CO 2 tax on all CO 2 emissions, given the low price elasticity of fossil fuel consumption. As the proceeds of this tax would be redistributed, it would not generate a negative income effect; Substantial destruction of capital in sectors that produce or consume fossil fuels (chemicals, electricity, refining, automotive, air transport, etc.), which would be the main cause of a loss of income (GDP) due to the fall in usable capital; A drastic reorientation of investment from sectors that produce or consume fossil fuels into new sectors (renewable energies, electricity storage, housing insulation), which would not be straightforward (it would require the emergence of new companies capable of issuing securities, etc.).