US EditionStudy Finds Ocean Damage Nearly Doubles Climate Cost Estimates
Including ocean damages raises the economic cost of carbon dioxide emissions by 91%, revealing about $2 trillion in annual ocean-related damages missing from previous estimates.
- On Thursday, researchers at the Scripps Institution of Oceanography at the University of California San Diego published a study finding ocean damage nearly doubles the social cost of carbon, adding $46.2 per ton to reach $97.2 per ton, a 91% increase.
- Because the ocean was omitted from standard models, the team noted it had never been included in social cost of carbon calculations despite damage to coral reefs, fisheries and coastal infrastructure affecting millions globally.
- Using integrated assessment models, the researchers incorporated impacts on coral reefs, mangroves, fisheries and seaports, accounting for lost fisheries revenue, trade, and reduced calcium, omega-3 fatty acids, protein and iron availability.
- Immediate costs accrue to fisheries and coastal infrastructure because 2024 emissions of 41.6 billion tons imply nearly $2 trillion in ocean damages, disproportionately affecting vulnerable regions, researchers said.
- By quantifying ocean harms, the paper positions the blue social cost of carbon as a more complete metric, with researchers saying it gives decision-makers a fuller cost–benefit tool than carbon credits and offsets.
20 Articles
20 Articles
Ocean Damage Nearly Doubles the Cost of Climate Change
Ignoring the blue economy has left a multi-trillion-dollar blind spot in climate finance, according to a study from Scripps Oceanography.By Johnny SturgeonThe global cost of greenhouse gas emissions are nearly double what scientists previously thought, according to a study published Thursday by researchers at the University of California San Diego’s Scripps Institution of Oceanography.
Accounting for ocean impacts nearly doubles the social cost of carbon - Nature Climate Change
Oceans provide essential benefits to people and the economy, underpinned by the extent and condition of marine ecosystems and infrastructure—or ‘blue’ capital. However, the impacts of climate change on blue capital have been largely overlooked in influential indicators such as the social cost of carbon (SCC). Here we integrate the latest ocean science and economics into a climate-economy model, capturing climate change impacts on corals, mangrov…
The Conversation
Climate engineering would alter the oceans, reshaping marine life – our new study examines each method’s risks
Phytoplankton blooms, seen by satellite in the Baltic Sea, pull carbon dioxide out of the atmosphere. European Space Agency via Flickr, CC BY-SAClimate change is already fueling dangerous heat waves, raising sea levels and transforming the oceans. Even if countries meet their pledges to reduce the greenhouse gas emissions that are driving climate change, global warming will exceed what many ecosystems can safely handle. That reality has motivate…
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