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Then there's also the problem of the young taking care of the older people, like for instance a pension, which is kind of tax payed by the people still working. If there's less people working the elderly might get less or no pension, no healthcare, no food, no water...they would die because they can't afford to live anymore. That is a terrible way to die and that knowledge is also a burden to pay far their children aswell.
But I guess every act we do now to save the planet, will be drastic with some very heavy consequences, and again 7 billion people would have to agree on them. I mean look at Greece in the Eurocrisis right now, just try to convince the world to starve so their countries ends would be met to solve the crisis.