Is it possible that we can reduce climate change given our current actions?
Our current actions are most definitely not enough to reduce the rate of climate change.  Yes, it is possible that someday we could do enough to start reversing the damage, but we aren't anywhere close to that reality given our social customs that constantly rely on combustion.  Definitely not anything "soon".  

The reality is that emissions still go up nearly every year.  This is largely because most of the world (especially China) is actively converting to "western" lifestyle, which uses a lot of resources per capita.  Also, it takes hundreds of years for CO2 to decrease in the atmosphere naturally.  So, while there are many efforts to reduce CO2 emissions, the amount of carbon in the atmosphere still goes up every year.  If we could somehow advance carbon sequestration methods to  the point where we can reduce both oceanic and atmospheric carbon, then we could theoretically get back to "normal".  To truly make a change in the right direction, though, the industrialized world needs to stop relying on combustion as the dominant energy source.  See the http://www.globalcarbonproject.org/carbonbudget/index.htm slides (excerpt below) for more information.

Emissions from fossil fuel use and industry:


And here is the atmospheric concentration as measured at Mauna Loa: