The rapidly melting Arctic is not only a looming climate catastrophe, but new research shows it could be an economic disaster, as well.
In findings published in the journal Nature, economists and polar scientists from the University of Cambridge and Erasmus University Rotterdam found that the ripple effects of climate change in the Arctic — unlocking frozen reserves of methane that speed global warming and cause destructive and costly climactic changes across the planet — could deal a severe blow to the global economy.
In findings published in the journal Nature, economists and polar scientists from the University of Cambridge and Erasmus University Rotterdam found that the ripple effects of climate change in the Arctic — unlocking frozen reserves of methane that speed global warming and cause destructive and costly climactic changes across the planet — could deal a severe blow to the global economy.
The release of methane from thawing permafrost beneath the East Siberian Sea, off northern Russia, alone comes with an average global price tag of $60 trillion in the absence of mitigating action — a figure comparable to the size of the world economy in 2012 (about $70 trillion). The total cost of Arctic change will be much higher.
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New Research Finds Melting Arctic May Cost Global Economy $60 Trillion | ThinkProgress
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New Research Finds Melting Arctic May Cost Global Economy $60 Trillion | ThinkProgress
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