Economic Effects of an Ocean Acidification Catastrophe
Stephen G. Colt, Gunnar P. Knapp
American Economic Review · 2016 · Volume 106 · Issue 5
Abstract
We assess the potential magnitude of the economic effects of an ocean acidification (OA) catastrophe by focusing on marine ecosystem services most likely to be affected. It is scientifically plausible that by 2200 OA could cause a complete collapse of marine capture fisheries, complete destruction of coral reefs, and significant rearrangement of marine ecosystems. Upper-bound values for losses from the first two effects range from 97 to 301 billion 2014 dollars per year (0.09 - 0.28% of current world GDP). We argue that aquaculture output would not be reduced, due to the high potential for adaptation by this young industry.
Keywords
Renewable Resources and Conservation: Fishery, Aquaculture, Renewable Resources and Conservation: Water, Climate, Natural Disasters and Their Management, Global Warming, Ecological Economics: Ecosystem Services, Biodiversity Conservation, Bioeconomics, Industrial Ecology, Environmental Economics: Government Policy
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