Ocean damage nearly doubles the true cost of climate change

The true economic cost of climate change may be far higher than previously understood, especially for coastal states like Florida, according to new research.

The study, as reported by Inside Climate News, finds that traditional climate cost models have largely excluded damage to the ocean, even though some of the most visible and costly impacts of climate change occur at sea.

When losses to coral reefs, fisheries, coastal ecosystems and ocean-based industries are included, the estimated cost of climate change nearly doubles.

For decades, economists calculating the “social cost of carbon”—the estimated economic harm caused by each ton of carbon dioxide emitted—largely ignored damage to the ocean, even though many of climate change’s most visible impacts occur at sea. The new research, led by scientists at the Scripps Institution of Oceanography at UC San Diego, incorporates losses to coral reefs, fisheries, coastal infrastructure, and other marine systems into the cost calculation.

For Florida and South Florida, where tourism, fisheries, ports and coastal development are deeply tied to ocean health, the findings underscore how much is at stake. Rising sea levels, coral reef loss, stronger storms and coastal flooding already affect local communities and infrastructure.

Experts say incorporating ocean damage into climate economics provides policymakers and planners with a more complete picture of the true cost of greenhouse gas emissions — information that could influence future climate, resilience and coastal protection decisions.

Reporting and research referenced from Inside Climate News.