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The Arctic’s Quickening Melt Could Cost the World Economy Trillions of Dollars this Century – Study

April 26, 2017 |

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“The region’s warmer and wetter shift is melting permafrost under buildings from Siberia to Alaska, raising world sea levels and disrupting temperature patterns further south, the report said. Some 90 scientists contributed to the study commissioned by the Arctic Council, which groups the United States, Russia, Canada, Sweden, Denmark, Norway, Finland and Iceland.

They have urged governments with interests in the Arctic to cut greenhouse gas emissions. “The Arctic is warming faster than any other region on Earth, and rapidly becoming a warmer, wetter and more variable environment,” the report said.

…Arctic warming could have a cumulative net cost of between $US7 ($A9.3) trillion and $US90 trillion from 2010-2100, with harm exceeding benefits such as easier access to oil and gas exploration and shipping, the report said…”

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