Gav,
Note though a lot of browns reductions are for stopping rain-forest destruction and re-planting trees. While Australia has stopped most tree clearing, re-planting is not going to be considered in initial carbon trading. This is probably a serious flaw.
The balance, almost eliminating FF for transportation and electricity production will boil down to replacing FF in transport with electricity and thus generating a LOT more electricity by renewables ( and nuclear?).

I can't see much of the world automobile capacity being used for wind generators because they will be flat out building BEV and PHEV's.
Some steel from not building larger vehicles may be available for wind towers. Surplus aluminium from scrapped aircraft could be used for turbine blades and transmission lines. For Australia to replace 90% of the coal used in coal-fired electricity generation( keeping the coal fired power plants for back-up during days of poor wind, while using hydro to flatten hour by hour changes in wind power) would require us to increase our wind capacity by a similar amount to our entire existing wind capacity every year. With world wide shortages now, we would have to build up a new wind power manufacturing capacity. At least we have surplus copper, steel, aluminium. Similarly for solar PV capacity.