Supposedly the incentive already exists because parents want their children saved from the harms of facebook and social media. The story is that parents are clamoring for the government to do something about it. I don't think parents really are, or where they are the expectation is that the social media companies will be forced to change their behavior, not that parents will be forced to start parenting their children or be forced to provide a scan of their face and passport every time they do an internet search.
The government has just decided to fall back on "think of the children" as a way to implement more surveillance and control.
The incentive for parents to stop giving their children smartphones does not exist. If it did exist, it would incite parents to perform the action: ie not give their children smartphones.
Incentives incite action. No action. No incentive.