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Next Part of the reason for the change is that the COVID-19 pandemic has served as a wake-up call regarding the potential risks we face. Political, business, and civil-society leaders are now taking seriously the threat of a future “green swan” event that could trigger another systemic or global crisis. Moreover, a growing number of governments have come to realize that pursuing carbon-neutral goals also will drive economic growth and deliver a higher quality of life for their citizens. Whereas simply restricting emissions through regulation once would have created a strong economic headwind, the global shift toward carbon neutrality has changed the economic calculus. New consumption and production patterns are creating new markets with far-reaching growth potential.

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