https://en.wikipedia.org/wiki/Jevons_paradox
Using less CO2 (for a given activity) without reducing well being much just means we are becoming more efficient with it. Which means we could potentially use more CO2, globally.
Don't get me wrong, I think individual action is good. But will it solve it? I think the only things that would solve it are:
1. Making a source of energy superior enough to CO2 that people don't even desire carbon 2. Leaving the carbon in the ground
I think #1 may be a precondition for #2.
Of course, if the small personal decisions help develop the technology in #1, they may help more directly than simply reducing consumption.
However, the impacts of an individual, even collectively, don't matter much on this issue. The change has to come in the way energy is generated in the large scale if it's going to make a difference in the problem. It also takes actions from government like a carbon tax or incentives to create more clean energy sources, or both to push these collective decisions in a better direction.
You shouldn't be ashamed about this per se, because the type of action that will combat climate change is action by governments and corporations. An Inconvenient Truth made everyone think that small personal decisions are the way toward a greener future (think changing your lightbulb), but they aren't.