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Arctic thawing could cost the world $60tn, scientists say

2013-07-24 13:04:00| Climate Ark Climate Change & Global Warming Newsfeed

BusinessGreen: Rapid thawing of the Arctic could trigger a catastrophic "economic timebomb" which would cost trillions of dollars and undermine the global financial system, say a group of economists and polar scientists. Governments and industry have expected the widespread warming of the Arctic region in the past 20 years to be an economic boon, allowing the exploitation of new gas and oilfields and enabling shipping to travel faster between Europe and Asia. But the release of a single giant "pulse" of methane...

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Huge methane belch in Arctic could cost $60 trillion

2013-07-24 12:59:00| Climate Ark Climate Change & Global Warming Newsfeed

New Scientist: A sudden methane burp in the Arctic could set the world back a colossal $60 trillion. Billions of tonnes of the greenhouse gas methane are trapped just below the surface of the East Siberian Arctic shelf. Melting means the area is poised to deliver a giant gaseous belch at any moment" - one that could bring global warming forward 35 years and cost the equivalent of almost a year's global GDP. These are the conclusions of the first systematic analysis of the economic cost of Arctic melting,...

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Arctic methane release could cost economy $60 trillion

2013-07-24 09:01:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: A release of methane in the Arctic could speed the melting of sea ice and climate change with a cost to the global economy of up to $60 trillion over coming decades, according to a paper published in the journal Nature. Researchers at the University of Cambridge and Erasmus University in the Netherlands used economic modelling to calculate the consequences of a release of a 50-gigatonne reservoir of methane from thawing permafrost under the East Siberian Sea. They examined a scenario in which...

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In Rapidly Changing Arctic, U.S. Playing Game of Catch-Up

2013-07-21 17:30:00| Climate Ark Climate Change & Global Warming Newsfeed

Climate Central: With Arctic sea ice thinning and shrinking rapidly in recent years, the U.S. military and scientific agencies are scrambling to cope with the looming prospect of a seasonally ice-free Arctic Ocean. At a meeting in Washington last week, top U.S. Arctic officials at the Coast Guard, Navy, the National Oceanic and Atmospheric Administration (NOAA), and other agencies acknowledged that the U.S. lags behind other nations in dealing with the rapidly changing Arctic environment. The agencies are facing...

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Greenpeace Save the Arctic activist: 'Shell is in the shadow of the Shard'

2013-07-16 08:16:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: "I never felt scared, not even once. It wasn't until we were particularly high up it hit me, when we could see how close we were to the planes." Victoria Henry is at Mile End Climbing Wall, three days after she scaled the Shard, Europe's tallest building, for Greenpeace's Save the Arctic campaign. She's waiting to start her first indoor climbing session since scaling the tallest building in London, which seems ridiculously easy in comparison. As we sit in the reception, every person who walks in...

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