Arctic Methane Release Due To Climate Change Could Cost Global Economy ...
"The global impact of a warming Arctic is an economic time-bomb," said Gail Whiteman, an author of the report and professor of sustainability, management and climate change at the Rotterdam School of Management, part of Erasmus University.
"In the absence of climate-change mitigation measures, the model calculates that it would increase mean global climate impacts by $60 trillion," said Chris Hope, a reader in policy modelling at the Cambridge Judge Business School, part of the University of Cambridge.
That approaches the value of the global economy, which was around $70 trillion last year.
The costs could be even greater if other factors such as ocean acidification were included, the study said, or reduced to some $37 trillion if action is taken to lower emissions.