{"id":40076979,"date":"2012-03-22T00:00:00","date_gmt":"2012-03-21T18:30:00","guid":{"rendered":"http:\/\/china-dialogue-ocean-staging.darkbluehq.com\/uncategorized\/2-trillion-ocean-services-climate-change\/"},"modified":"2022-02-10T23:00:13","modified_gmt":"2022-02-10T17:30:13","slug":"2-trillion-ocean-services-climate-change","status":"publish","type":"post","link":"https:\/\/dialogue.earth\/en\/ocean\/2-trillion-ocean-services-climate-change\/","title":{"rendered":"Two trillion dollar loss each year from oceans in warmer world"},"content":{"rendered":"

Climate change alone could reduce the economic value of key ocean services by up to $2 trillion a year by 2100, a new study<\/a> shows. So many threats are converging on the oceans at once that a global, integrated approach to combat them is urgently needed.<\/p>\n

The study,\u00a0Valuing the Ocean<\/i>, is the work of an international, multi-disciplinary team of experts coordinated by the Stockholm Environment Institute<\/a> (SEI). The executive summary was released on March 22, World Water Day.<\/p>\n

The study includes an analysis on ocean economics, designed to quantify the costs of ocean degradation, which are often invisible in the cost-benefit analyses that guide policy. The analysis calculates the cost over the next 50 and 100 years respectively in terms of five categories of lost ocean value \u2013 fisheries, tourism, sea-level rise, storms, and the ocean carbon sink \u2013 under scenarios of high and low carbon emission into the atmosphere.<\/p>\n

By 2100, the estimated annual cost of the damages from \u2018business as usual\u2019 emissions, projected to lead to\u00a0an average temperature rise of 4\u00b0C, will be $1.98 trillion, equivalent to 0.37% of future global GDP.\u00a0 A rapid emission reduction pathway that limited temperatures increases to 2.2\u00b0C would avoid almost $1.4 trillion of those damages.<\/p>\n

\u201cThese figures are just part of the story, but they provide an indication of the price of the avoidable portion of future environmental damage on the ocean \u2013 in effect the distance between our hopes and our fears,\u201d says\u00a0Frank Ackerman, director of SEI\u2019s Climate Economics Group. \u201cThe\u00a0cost of inaction increases greatly with time, a factor which must be fully recognised in climate change accounting.\u201d<\/p>\n

And while climate change is an enormous threat, it is not the only one. A key point of\u00a0Valuing the Ocean<\/i>\u00a0is that the convergence of multiple stressors\u00a0\u2013 acidification, ocean warming, hypoxia, sea-level rise, pollution, and overuse of marine resources \u2013 could lead to damages far greater than just from individual threats.<\/p>\n

The study does not put a monetary value on the total projected damages, many of which involve \u201cpriceless\u201d losses such as the eradication of species, but it argues that given how much we do know about the potential costs, world leaders should take a precautionary approach and take strong action to protect oceans, even in the absence of complete economic data.<\/p>\n

\u201cWe must develop an integrated view of how our actions impact the ocean, and threaten the vital services it provides, from food to tourism to storm protection,\u201d says Kevin Noone, Director of the\u00a0Swedish Secretariat for Environmental Earth System Sciences at the Royal Swedish Academy of Sciences, and co-Editor of\u00a0Valuing the Ocean<\/i>. \u201cThe global ocean is a major contributor to national economies, and a key player in the earth\u2019s unfolding story of global environmental change, yet is chronically neglected in existing economic and climate change strategies at national and global levels. We want to bridge these gaps and give a holistic view of the value of the ocean.\u201d<\/p>\n

The review presents the latest evidence of the way in which parts of the ocean are being affected by multiple stressors \u2013 for example\u00a0ocean acidification, ocean warming and hypoxia \u2013 which means that the projected damage, and its costs, is much greater than with single impacts.<\/p>\n

\u201cWe no longer have the luxury of tackling only one issue at a time. We urgently need to devise a management system that works across scales from local to global, and allows us to optimise our use of marine resources in a sustainable way given simultaneous, and often synergistic, threats,\u201d\u00a0says\u00a0Julie Hall\u00a0of the New Zealand\u00a0National Institute of Water and Atmospheric Research, and co-author of the Impacts of Multiple Stressors chapter.<\/p>\n

Valuing the Ocean<\/i>\u00a0urges policy makers to fully consider the threats to ocean services in broader economic and development plans, including by valuing the massive \u2018blue carbon\u2019 absorption potential of marine ecosystems. The authors also call for local measures, such as marine protected areas<\/a> (MPAs), to boost the resilience of marine ecosystems to insure against the growing risk of extreme events like mass coral bleaching and more intense tropical storms. But given the enormity of the climate threat in particular,\u00a0Valuing the Ocean<\/i>\u00a0stresses that the only way to avoid huge additional costs and disastrous consequences in the future is by dramatically cutting emissions carbon dioxide into the atmosphere.<\/p>\n","protected":false},"excerpt":{"rendered":"

Climate change will inflict damage on the blue economy<\/p>\n","protected":false},"author":0,"featured_media":40064548,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[50039901],"tags":[519,589],"hashtags":[],"country":[],"class_list":["post-40076979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ocean","tag-climate-impacts","tag-sea-level-rise"],"acf":[],"yoast_head":"\nTwo trillion dollar loss each year from oceans in warmer world | Dialogue Earth<\/title>\n<meta name=\"description\" content=\"Climate change could reduce the economic value of ocean services by up to $2 trillion a year by 2100, shows a study by the Stockholm Environment Institute.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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