Climate Change Could Cost The World Economy An Extra $43 Trillion

Posted: Sep 22 2015, 4:59am CDT | by , Updated: Sep 22 2015, 9:53pm CDT, in News | Latest Science News


Climate Change Could Cost the World Economy An Extra $43 Trillion
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  • Global Warming is a Very Real Hazard for Humanity
  • Climate Change Could Cost $43 Trillion More by the End of 2200

Scientists have issued warnings that global warming is a very real hazard for humanity. Mankind needs to do something about it, otherwise the planet will go into an eco-spasm of sorts and the ultimate losers will be human beings.

Progress is a double-edged sword. What it gives with one hand, it takes away with the other. Last year, the US of A had a huge GDP. It was enough to buy out all the rest of the economies of the global village we inhabit twice over.

But, as far as the environment is concerned, things don’t look so rosy. If the Arctic permafrost starts melting due to global warming, the results will be catastrophic. The ensuing damage due to disasters will cost four times the GDP of the United States. 

This is a recipe for self-destruction on a colossal scale. Once the permafrost thaws, it could let loose tons upon tons of waste matter that had been in a “deep frozen” state for the past 10,000 years.

This of course will release so much rotten greenhouse gases into the atmosphere that the world will go into a rictus. Global warming will simply skyrocket thereby making the temperatures hot, sticky, humid and nasty.   

Its rather like thawing something which has been in your deep freezer for a long time and than leaving it out in the open to decompose. Pretty soon the noxious vapors given off by the putrid stuff will make living in the vicinity an unbearable task.

The breakdown of the organic matter will cause methane and carbon dioxide to escape into the surroundings thus polluting every nook and corner of the habitat. $43 trillion is the least amount that will be needed to clean up the mess.

Cambridge and Colorado researchers detailed their most recent calculations about the impact of melting Arctic ice, in a letter published Monday in the journal Nature Climate Change.

Co-author Dr Chris Hope of the Cambridge Judge Business School said, "These results show just how much we need urgent action to slow the melting of the permafrost in order to minimise the scale of the release of greenhouse gases."

Besides the increased need of air conditioning, staple crops will die off leaving famine in their wake and the tsunamis unleashed upon shores will destroy entire cities. It’s strange that scientists never thought of permafrost as a sleeping carbon sink, but that is exactly what it is and once it is disturbed, the results will not be pretty.

The only solution is to change the way we dispose of our waste materials. Pollution must come to an end and cleaner and leaner methods of getting by will have to be adopted. There is still time in which to accomplish this job. Otherwise it will be a case of a rescue team arriving just when the ship has sunk.  

Dr Hope said, "We want to use these models to help us make better decisions – linking scientific and economic models together is a way to help us do that. We need to estimate how much it will cost if we do nothing, how much it will cost if we do something, and how much we need to spend to cut back greenhouse gases."

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The Author

<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.




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