I agree that we now have no choice, if we want civilization as we know it to survive, but to limit consumption to (roughly) the average level of material well-being in so-called 'first world' nations. I have developed a way to do that justly.
It is not something I came up with this morning. A (more austere) version of the paradigm is in my book, A Just Solution (2004). In the meantime I had developed an intermediate version of the paradigm, but I am convinced it is now too late for any kind of half-measures.
if curious: "To Preserve What We Have, What We Have Must Be enough" (with links to other articles, all available for free here in Medium)