How much is climate change really costing us? The concept of the social cost of carbon helps answer this question. It measures the financial damage caused by carbon emissions but has often ignored the ocean’s role—until recently.
Bernie Bastien-Olvera, a climate scientist at the National Autonomous University of Mexico, has shed light on this issue. In a recent study published in Nature Climate Change, he and his team found that when we factor in the ocean’s impact, the social cost of carbon nearly doubles. “Once you see it, you cannot unsee it,” Bastien-Olvera said about recognizing the ocean’s value in this equation.
James Rising, a climate economist at the University of Delaware, noted that many often underestimate the ocean economy compared to land. “The idea that the ocean’s impacts could be as significant as those on land was surprising,” he explained.
The Ocean’s Role
Typically, the social cost of carbon considers things like property, agriculture, and health impacts. Only recently have scientists begun to integrate ocean-related factors—like marine life and fisheries—into these calculations. Reports from the National Academies of Sciences and the U.S. EPA highlight the need for this inclusion, noting that the ocean’s value for climate impact assessments is often missing.
Bastien-Olvera emphasized, “It’s a huge gap.” As climate change alters marine chemistry and raises ocean temperatures, we see issues like ocean acidification and coral reef loss. These changes threaten marine ecosystems and coastal communities alike.
In their study, Bastien-Olvera and a global team used the Regional Integrated Climate-Economy model (RICE50+) to integrate these marine factors. They found that with oceans included, the social cost of carbon jumped to $97 per ton of CO₂—nearly double the previous estimate of $51. Rising called this a “significant component” of the total social cost.
Bastien-Olvera cautioned that this is a conservative figure. Many ocean-related aspects, like the intrinsic value of deep-sea species or the protective benefits of healthy coastal ecosystems, were not included.
Understanding Marine Ecosystem Value
Economists often struggle to put a price on nature. For example, coral reefs protect shorelines, but valuing their beauty is more difficult. Rising mentioned that the study used straightforward methods to estimate the worth of both tangible and intangible benefits from marine ecosystems.
More research is needed to improve how we measure these values, particularly as climate change continues to impact our oceans. Rising noted that the new research could influence policies for governments and organizations that rely on social cost of carbon estimates.
In conclusion, this study offers a critical look at how we can better understand and quantify the impact of climate change on our oceans. By including the ocean in our assessments, we can gain a clearer picture of the true costs and shape more effective climate policies moving forward.
For more insights and data on this topic, check out the detailed reports from the U.S. EPA and the National Academies.
Source link
carbon dioxide,climate change,global warming
