Take it from the perspective that no one really knows, only that the possibility exists.
Here are the lottery tickets, pick yours and throw the dice with future generations.
As bad as a global recession might be, not all is lost to the wind. We would have accelerated the transition to green energy.
Fossil fuel reserves are finite and will not last indefinitely, transition to alternate energy is a given, it's just a matter of when.
Risk management, if in doubt, take out the insurance policy against
Mad Max Beyond Thunderdome.
With regard to your post above, and notwithstanding the accuracy of the costs you have cited which I find suspect, China is the big hitter with carbon dioxide emissions. If China doesn't get on-board then we're in real trouble.