Global Economy to Lose Billions without Action to Stop Ocean Acidification – UN ReportNewsroom
The global economy could be losing as much as $1 trillion annually by the end of the century if countries do not take urgent steps to stop ocean acidification.
This figure reflects the economic loss for industries linked to coral reefs alone, which are some of the most vulnerable species to this phenomenon. The overall financial and environmental costs are still uncertain, states the report, An Updated Synthesis of the Impacts of Ocean Acidification on Marine Biodiversity, issued in Pyeongchang by the Convention on Biological Diversity (CBD) at the 12th meeting of the Conference of the Parties to the CBD (COP-12).
“When ecosystems stop delivering the way they should, they essentially deliver less services and less benefits. In the case of coral reefs, those systems are essential for people’s livelihoods in many regions of the world and they will be significantly affected,” said Salvatore Arico, who acts as the principal focal point on biodiversity and policy at the UN Educational, Scientific and Cultural Organization (UNESCO).
Ocean acidification is the ongoing decrease in the pH of the Earth’s oceans, caused by a drastic increase in carbon dioxide emissions due to human activity. The report stresses that this phenomenon is occurring at unprecedented levels, threatening marine biodiversity and ultimately human society.
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