Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Fisheries and oceans Location: Auditorium Q Session Chair: Benjamin Blanz, University of Hamburg | |
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Social Cost of Carbon for the Oceans 1: Scripps Institution of Oceanography, University of California San Diego; 2: RFF-CMCC European Institute on Economics and the Environment; 3: Euro-Mediterranean Center on Climate Change (CMCC); 4: Instituto de Ciencias de la Atmósfera y Cambio Climático, Universidad Nacional Autónoma de México; 5: Institute of Earth System Sciences (IESW), Leibniz Universität Hannover; 6: Institute for the Oceans and Fisheries, The University of British Columbia; 7: Marine Science Institute, University of California, Santa Barbara; 8: Bren School of Environmental Science and Management, University of California, Santa Barbara; 9: Faculty of Technology, Policy and Management, Delft University of Technology; 10: Oxford Programme for Sustainable Infrastructure Systems, University of Oxford Oceans provide essential benefits to people and the economy. These benefits are underpinned by the functioning of marine ecosystems and the presence of ocean-based or “blue” capital. However, blue capital is increasingly at risk as human activities and climate change drive the loss and degradation of marine biodiversity and coastal infrastructure. Despite these growing threats, the impacts of climate change on the oceans and their societal repercussions have been largely overlooked and are not included in influential indicators such as the social cost of carbon. To address this omission, we integrate the latest ocean science and economics into a climate-economy model, capturing the climate impacts on corals, mangroves, seaports, fisheries, and mariculture to estimate their welfare repercussions at a global scale. We estimate the social cost of carbon for the ocean (blue SCC) to be $62 [47-90, interquartile range] per ton of CO2 in 2020, representing one third of the current U.S. estimate, which excludes ocean-related impacts. Half of the blue SCC comes from damages to fisheries and mariculture, one third from corals, followed by damages to mangroves (17%) and maritime ports (3%). Most of the blue SCC comes from nonmarket use values (e.g., nutrition value of fisheries and mariculture) and non-use values (e.g., the existence value of corals); market values (e.g., revenues from port-based trade) are significant but quantitatively small. These findings underscore the critical need to account for ocean-based welfare in climate policy, providing valuable insights for greenhouse gas mitigation efforts and sustainable ocean management strategies. | |