That would be the smart move. To greatly increase conservation (heat pumps, better insulation, etc. are low hanging fruits that will more than pay for themselves in a few years), reduce car driving in favor of cheaper and better public transport and/or bikes/ebikes, and to increase wind and solar power, both of which are as cheap if not cheaper than most sources of fossil fuels and can be brought online within months.
If Europe does not do this, then they will absolutely deserve the impact of the future geopolitical shocks that will inevitably increase as climate change causes migrations, inflation, increasing natural disasters, and ensuing political instability in fossil fuel providing nations, which are not coincidentally among the most ripe for political revolt.