A study commissioned by 14 seafaring nations predicts that unchecked climate change could devastate fishery industries and coral reef tourism, causing loss of hundreds of billions of dollars by 2050. The report published on the sidelines of a U.N. climate summit in Madrid says limiting global warming would lessen the economic impact for coastal countries but they also need to adapt to ocean changes.
The authors say fish will migrate to cooler waters as oceans heat up and become more acidic, jeopardizing some fishing communities. While regions near the equator will suffer fish stock declines, the report forecasts increase in Arctic and Antarctic Oceans. Reef tourism is also likely to suffer as corals will die off largely wiping out a multi-billion-dollar industry in several countries by the end of the century.