In recent scientific research, it is suggested that the Anthropocene era – the first era in which human activity has been the dominant factor in shaping the environment on Earth – has initiated the sixth species mass extinction. Unsurprisingly, climate change is cited as the “biggest single threat to the economy” by many, including Henry Paulson, the former chairman of the Federal Reserve.
The task ahead is daunting. According to the Intergovernmental Panel on Climate Change, Greenhouse gas (GHG) emissions must be brought down to 2t of CO2 equivalent per capita per year by 2050 to limit global warming to the critical threshold of 2°C. A return flight in business class from Paris to New York alone can emit 5t of CO2 equivalent.
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