I have already spelt out the most likely approach to consumption reduction in my article The Rich Have a Plan for Climate Change https://medium.com/@msfayebaker/the-rich-have-a-plan-for-climate-change-d6af80af24c5

It explains how by pushing poor people into poverty it both reduces the amount they consume and when starvation sets in, reduces the population too; which also reduces consumption. If you want to know how much reduction can be made, just go to Africa and see how little they have to exist on. The rich know this and it is their objective to make the poor as poverty stricken as the 'third world'.

Originally it was the capitilst's dream to bring everyone up to a level of consumption that maximised their profits. However, now that we realise there isn't enough resources or energy to do that (by ever increasing GDP) the rich are taking a different tack. They are going to push everyone down into penury instead. Only a rich elite are going to be able to enjoy the riches of this planet.