Ah, good ole “The free market will fix everything” approach.
It has yet to work. I’m not holding my breath hoping it’ll fix it anytime soon.
Free market does not fix everything, but it does work when conditions are right. That is when it is actually free as in free competition, actually market with multiple players and customers and so on.
And it is already contributing significantly into CO2 reduction - lots of private money is invested into building up green based technologies, and this will only accelerate in future.
The private money invested into green technologies has a lobby too. Right now it is smaller then the oil lobby, but with green technologies becoming cheaper the industry grows and that makes them stronger. At the same time the oil industry becomes weaker.
Stuff like banning combustion engine cars are worth lobbying for, when car companies make more money with evs for example. Banning gas boilers is a great thing, for manufacturers of heat pumps as well. There is a lot more like that and it really works international as money flows international. You see that in the EU right now. Due to the energy war with Russia fossil fuels got expensive and well green technologies did not. At the same time geopolitcs made passing enviromental laws a good idea at the time as well. So right now fossil fuel is in panic mode and financing far right parties, as the status quo is not working for them anymore.