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Economic costs of ocean acidification: a look into the impacts on global shellfish production
journal contribution
posted on 2023-06-08, 14:36 authored by Daiju Narita, Katrin Rehdanz, Richard TolRichard TolOcean acidification is increasingly recognized as a major global problem. Yet economic assessments of its effects are currently almost absent. Unlike most other marine organisms, mollusks, which have significant commercial value worldwide, have relatively solid scientific evidence of biological impact of acidification and allow us to make such an economic evaluation. By performing a partial-equilibrium analysis, we estimate global and regional economic costs of production loss of mollusks due to ocean acidification. Our results show that the costs for the world as a whole could be over 100 billion USD with an assumption of increasing demand of mollusks with expected income growths combined with a business-as-usual emission trend towards the year 2100. The major determinants of cost levels are the impacts on the Chinese production, which is dominant in the world, and the expected demand increase of mollusks in today’s developing countries, which include China, in accordance with their future income rise. Our results have direct implications for climate policy. Because the ocean acidifies faster than the atmosphere warms, the acidification effects on mollusks would raise the social cost of carbon more strongly than the estimated damage adds to the damage costs of climate change.
History
Publication status
- Published
Journal
Climatic ChangeISSN
0165-0009Publisher
Springer VerlagExternal DOI
Issue
3-4Volume
113Page range
1049-1063Department affiliated with
- Economics Publications
Full text available
- No
Peer reviewed?
- Yes