This is an approximation but is in the ballpark of what would be a truly life-threatening reduction because it would also mean a reduction in oxygen output from plant life which is wholly necessary for human life as well as many other oxygen-breathing organisms, and the overall balance biochemically in many ecological environments. So this is a good rule of thumb and underscores the fact that humans have been moving relentlessly towards this danger zone for many thousands of years and why increased CO2 levels, rather than being a danger, are a benefit.
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