“The imminent disappearance of the summer sea ice in the Arctic will have enormous implications for both the acceleration of climate change, and the release of methane from off-shore waters which are now able to warm up in the summer,” study researcher Peter Wadhams, of Cambridge University, told The Guardian.
To figure out the economic cost of a decade of extreme methane release — say from 2015 to 2025 — the researchers added the extra methane and temperature increases to the climate models through to 2200 — that’s how they got the $60 trillion cost globally from just the East Siberian Arctic Shelf.
These financial impacts will mostly be felt in the poorest parts of Africa, Asia, and South America — causing loss of crops, droughts and other extreme weather, and increasing sea level rise. This continued methane release could completely undermine the global financial system, the researchers said in commentary published today, July 24, in the journal Nature.
This is in contrast to other, sunnier reports on Arctic melt, which detail the possible “good” this melt will have — opening up shipping lanes, increasing fishing, and even allowing us to access minerals, natural gas, and oil in the ocean bed.
[by Jennifer Welsh, writing for Business Insider]
As always, posted for your edification and enlightenment by
NORM ‘n’ AL, Minneapolis