What is the cost of climate change to our oceans?
(guardian-blog-comment 26 Mar 12) An unprecedented study claims to show how the effects of climate change could cost the global marine economy two trillion dollars per year, but this begs the question: how can you cost the oceans?
Scientists in Sweden claim climate change could cause almost $2tn of damage per year through marine impacts alone by 2100 if emissions continue to rise at current rates.
Valuing the Ocean, a study by the Stockholm Environment Institute (SEI) is due to be published in June this year and has assigned monetary values to five categories of ocean services in a bid to establish an objective calculation for the costs of climate change to the marine economy.
The study uses one high- and one low-emissions scenario as defined by the Intergovernmental Panel on Climate Change (IPCC) to show how quick and concerted efforts to minimise global warming could lead to savings of $1.37tn per year - or 0.25% or projected global GDP - by 2100.
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