I don't think it's fair to put the blame on individuals not reducing their carbon footprints. It's big industries that are fucking the climate. (Oil being likely the biggest one.) And the solution isn't to incentivise individuals to bicycle more. It's to regulate industry to stop taking oil out of the ground.

The idea that the individual citizen is the problem and and the solution to climate change and other environmental issues is propaganda invented by industry to get the focus off of them. "We oil companies aren't the problem. You need to drive less." "We plastic manufacturers didn't put tons of plastic in the oceans. You need to recycle more."

"Voting with your dollars" is similarly a con.

The reason you vote (with your... you know... votes) is so that the administration that isn't going to gut the EPA gets the next term. And maybe they'll enforce regulations on special interests that actually make a positive difference in emissions.