Tax carbon, use the money to fund a UBI. The UBI increases standard of living as much or more than a carbon tax in the same amount reduces it. The carbon tax itself also promotes living closer to work over having a longer commute, which also improves standard of living by reducing the amount of time unproductively spent commuting. (We could also reduce carbon/commuting further by constructing more high density urban housing.) Reducing oil consumption reduces resources sent to antagonistic OPEC member states, leaving those resources here to improve standard of living as well.

This is before we get to the benefits of having less climate change.

What are you suggesting? Doing nothing is catastrophic: https://www.rifters.com/crawl/?p=8433

I dispute that "any action that reduces standard of living will cause deaths" -- there are all sorts of ways my life could be made worse that won't kill me.