Cost of ocean degradation put at 0.37 pct of future GDP
The cost of damage to the
world's oceans from climate change could reach $2 trillion a
year by 2100 if measures to cut greenhouse gas emissions are not
stepped up, a study by marine experts said on Wednesday.
The study found that without action to limit rising
greenhouse gas emissions, the global average temperature could
rise by 4 degrees Celsius by the end of the century causing
ocean acidification, sea level rise, marine pollution, species
migration and more intense tropical cyclones. It would also
threaten coral reefs, disrupt fisheries and deplete fish stocks.
In the study, "Valuing the Ocean", marine experts led by the
Stockholm Environment Institute (SEI) analysed the most severe
threats facing the world's marine environment and estimated the
cost of damage from global warming.
It found nitrogen-rich fertilisers and waste would strip
more ocean areas of oxygen, causing what is known as hypoxic
dead zones, which are already found in more than 500 locations.
"By 2100, the cost of damage if we do not radically cut
emissions rises to $1.98 trillion, or 0.37 percent of global
gross domestic product," the SEI said.
The loss of tourism would incur the highest cost at $639
billion per year. The loss of the ocean carbon sink, the seas'
ability to soak up carbon dioxide (CO2), would cost almost $458
billion, the study showed. Warmer water holds less CO2.
RADICAL TECHNOLOGIES
If cuts in emissions of planet-warming greenhouse gases were
carried out more urgently and temperature increases were limited
to 2.2 degrees C, nearly $1.4 trillion of the total cost could
be avoided, the study found.
However, such progress would require the widespread use of
radical carbon removal technologies like sucking carbon dioxide
out of the atmosphere, Frank Ackerman, one of the report's
authors told Reuters.
"The faster we stop emissions rising, the lower the damage
will be. But on current technology, I wouldn't be surprised if
we end up on a 4 degree C pathway," said Ackerman, senior
economist and director of the Climate Economics Group at SEI's
U.S. Center.
No comments:
Post a Comment