Ocean impacts nearly double economic cost of climate change, study finds
For the first time, a study by researchers at Scripps Institution of Oceanography at the University of California, San Diego integrates climate-related damages to the ocean into the social cost of carbon—a measure of economic harm caused by greenhouse gas emissions.
When ocean damage from climate change, dubbed the "blue" social cost of carbon, is calculated, the study finds that the global cost of carbon dioxide emissions to society nearly doubles.
A study by Scripps Institution of Oceanography at the University of California, San Diego finds that integrating climate-related damages to the ocean into the social cost of carbon nearly doubles the global economic cost of carbon dioxide emissions to society. The study, published in Nature Climate Change, assigns monetary values to overlooked ocean impacts, such as coral reef degradation, fisheries losses, and coastal infrastructure damage. The 'blue' social cost of carbon, which includes these ocean damages, is $97.2 per ton of carbon dioxide, a 91% increase from the $51 per ton without ocean impacts. The research highlights the unequal distribution of harm, with islands and small economies disproportionately affected. The study aims to provide a more accurate accounting of climate change harm for policymakers and industry decision-making.
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