Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

Dear Common Dreams Readers:
Corporations and billionaires have their own media. Shouldn't we? When you “follow the money” that funds our independent journalism, it all leads back to this: people like you. Our supporters are what allows us to produce journalism in the public interest that is beholden only to people, our planet, and the common good. Please support our Mid-Year Campaign so that we always have a newsroom for the people that is funded by the people. Thank you for your support. --Jon Queally, managing editor

Join the small group of generous readers who donate, keeping Common Dreams free for millions of people each year. Without your help, we won’t survive.

Runoff from melting permafrost in Alaska flows toward the sea. (Photo: NOAA)

'We Are Not Moving Fast Enough': Study Shows Cost of Melting Permafrost Could Total $70 Trillion

"The most important thing to remember about our study is the greater the warming, the stronger the feedbacks and the higher the costs to society."

Jake Johnson

An alarming study released Tuesday found that melting Arctic permafrost could add nearly $70 trillion to the global cost of climate change unless immediate action is taken to slash carbon emissions.

"We have the technology and policy instruments to limit the warming but we are not moving fast enough."
—Dmitry Yumashev, Lancaster University

According to the new research, published in the journal Nature Communications, melting permafrost caused by accelerating Arctic warming would add close to $70 trillion to the overall economic impact of climate change if the planet warms by 3°C by 2100.

Even if action is taken to limit warming to 1.5°C by the end of the century, the research found melting permafrost would still add $24.8 trillion to overall climate costs.

Dmitry Yumashev of Lancaster University, the lead author of the study, told National Geographic that melting permafrost and sea ice "are two known tipping elements in the climate system" that could trigger a cycle of unstoppable global warming.

In an interview with the Guardian, Yumashev called his study's results "disheartening," but said nations of the world have the technological capacity to confront the crisis.

What's needed, he said, is urgency and political will.

"Even at 1.5°C to 2°C [warming], there are impacts and costs due to thawing permafrost. But they are considerably lower for these scenarios compared to business as usual," said Yumashev. "We have the technology and policy instruments to limit the warming but we are not moving fast enough."

Kevin Schaefer of the National Snow and Ice Data Centre in Boulder, Colorado—a co-author of the study—echoed Yumashev's warning.

"With climate change we're conducting a high-risk experiment where we don't know what is coming," Schaefer told National Geographic. "The most important thing to remember about our study is the greater the warming, the stronger the feedbacks and the higher the costs to society."

As National Geographic reported, the "$25 to $70 trillion cost of Arctic warming adds four to six percent to the total cost of climate change—which is estimated to reach $1,390 trillion by the year 2300 if emissions cuts are not better than the Paris Agreement. However, the costs of the current business-as-usual path could be more than $2,000 trillion."

Yumashev expressed some relief that his research found the projected economic impact of melting permafrost was lower than the worst-case scenario predicted by previous estimates.

But, as Yumashev told the Guardian, "We still have a time bomb."


Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.

"I'm sure this will be all over the corporate media, right?"
That’s what one longtime Common Dreams reader said yesterday after the newsroom reported on new research showing how corporate price gouging surged to a nearly 70-year high in 2021. While major broadcasters, newspapers, and other outlets continue to carry water for their corporate advertisers when they report on issues like inflation, economic inequality, and the climate emergency, our independence empowers us to provide you stories and perspectives that powerful interests don’t want you to have. But this independence is only possible because of support from readers like you. You make the difference. If our support dries up, so will we. Our crucial Mid-Year Campaign is now underway and we are in emergency mode to make sure we raise the necessary funds so that every day we can bring you the stories that corporate, for-profit outlets ignore and neglect. Please, if you can, support Common Dreams today.

 

Right-Wing Justices Should Be Impeached for Lying Under Oath, Says Ocasio-Cortez

"We have a responsibility to protect our democracy," said the New York Democrat. "That includes holding those in power who violate the law accountable."

Kenny Stancil ·


'Infuriating': Biden Rebuked for Continued Opposition to Supreme Court Expansion

"What does Biden 'agree' with doing?" Mehdi Hasan asked. "What does the leader of this country want to do to stop the increasingly fascistic assault on our democratic institutions and basic rights?"

Kenny Stancil ·


'We Need Action': Biden, Democrats Urged to Protect Abortion Access in Post-Roe US

"The Supreme Court doesn't get the final say on abortion," Sens. Elizabeth Warren and Tina Smith wrote in a new op-ed.

Kenny Stancil ·


Motorist 'Tried to Murder' Abortion Rights Advocates at Iowa Protest, Witnesses Say

Although one witness said the driver went "out of his way" to hit pro-choice protestors in the street, Cedar Rapids police declined to make an arrest.

Kenny Stancil ·


'A Hate Crime': Oslo Pride Parade Canceled After Deadly Shooting at Gay Bar

A 42-year-old gunman has been charged with terrorism following what Norway's prime minister called a "terrible and deeply shocking attack on innocent people."

Kenny Stancil ·

Common Dreams Logo