Ocean Damage Nearly Doubles the Cost of Climate Change
Summary
A new study from Scripps shows that including ocean damage in climate economics nearly doubles the estimated global cost of climate change, adding about $2 trillion annually in losses to fisheries, coral reefs, and coastal infrastructure. The social cost of carbon rises from about $51 per ton to $97.20 per ton when ocean damages are included, underscoring the economic stakes of coastal and marine impacts for policy and investment decisions.