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Is Net-Zero Emission The Biggest Business Opportunity Of The Century?
Net-Zero is a term that has become popular in both the public and private sectors thanks to the massive advocacy performed by the environmental movement led by the United Nations and other global foundations. More recently, following the COP15 and COP26 Climate Summits that respectively took place in Paris, France in 2015 and in Glasgow, UK in 2021, the term has become synonymous with the green industrial transformation. Net-zero refers to the decarbonization of our economies to the level in which the greenhouse gases going into the atmosphere are harmonized by their complete removal.
When we reach Net-Zero, which for now is tentatively targeted by 2050 (according to the COP26 pledges by over 100 countries), global warming should stop. This should result in less intense and frequent disaster events and more predictable weather patterns, thus protecting billions of dollars of potential damage and loss. For these decarbonizations to be effective, they have to be permanent and be linked to long-term sustainability and green-growth policies and investments that prevent new unavoidable carbon emissions. As of today, we are still far from the decarbonization target that would keep the temperature increase below 1.5 degrees Celsius by the end of the century. However, we currently still have a CO2 budget, ie, the amount of carbon that…
