Ocean damage nearly doubles the cost of climate change
Summary
Ars Technica reports on Inside Climate News's study showing that including ocean damages in the social cost of carbon nearly doubles the global cost of climate change to about $2 trillion annually, reshaping climate finance and policy. The research assesses four sectors—corals, mangroves, fisheries, and seaports—and emphasizes ocean-related damages and non-use values, with implications for global equity and coastal economies.