A new study from UC San Diego's Scripps Institution of Oceanography reveals the global cost of greenhouse gas emissions is nearly double previous estimates. Researchers for the first time included ocean damages—coral loss, fisheries disruption, and coastal infrastructure destruction—adding roughly $2 trillion in annual costs. This raises the social cost of carbon from $51 to $97.20 per ton of CO2.

For decades, economic models effectively assigned zero value to the ocean, overlooking its central role in the climate system. The study, a multi-disciplinary effort spanning fisheries, coral biology, and climate economics, quantifies both direct market losses and non-use values like cultural significance. This shift forces a more complete accounting of climate harms, especially for island economies reliant on seafood.

The findings arrive amid political tension over climate cost-benefit analyses. While the data is robust, its adoption into policy remains contentious, with past administrations sidelining such metrics. Researchers hope this comprehensive view will compel international decision-makers to internalize ocean losses, potentially reshaping climate finance and mitigation strategies globally.