Nahh. Much less than that. 5/100ths of a percent is 500 ppm or 500,000 ppb. CO2 is presently at 400 ppm or 400,000 ppb.
N2O is around 320 ppb at present.
All them numbers, including mine...just barely above nothin'. All that is, is a bunch of communist gobbledegook.
It don't mean sheeee-it.