The loss of coral reefs caused by rising sea temperatures could cost $1 trillion globally, a report from Australia’s Climate Council has projected, with the loss of Queensland’s Great Barrier Reef alone costing that region 1m visitors a year, imperilling 10,000 jobs and draining $1bn from the economy.

The longest global coral bleaching event on record, which began in 2014 and has affected some reefs in consecutive years, has given reefs little chance to recover, and should be a “wake-up call” to act to save the natural and economic assets, the Climate Council’s Lesley Hughes said.

“The extraordinary devastation being experienced on the Great Barrier Reef is due to the warming of our oceans, driven by the burning of coal, oil and gas,” Hughes said. “It would have been virtually impossible for this to have occurred without climate change.”

Hughes argued it was a false dichotomy in public debate “to pit the environment against the economy”.

“This isn’t just an environmental issue. The Great Barrier Reef is one of Australia’s greatest economic assets. It’s responsible for bringing in more than $7bn each year to our economy, while also supporting the livelihoods of around 70,000 people. A healthy Great Barrier Reef underpins the tourism industry and the jobs that it supports.”

Source: The Guardian

The rising ocean temperatures clearly shows the effect of the increased underwater volcanic activity around the globe, not to mention the increased heat emanating from the core of the Earth.