A recent report from the High Level Panel for a Sustainable Ocean Economy has found that oceans are capable of delivering 47% of annual emissions reductions needed by 2050 to avoid catastrophic global warming levels. This amount of emissions reduction potential equates to about four times the current total emissions of the European Union.
The Ocean Panel report focuses on five ocean-based climate solutions along with the phasing-out of two practices: offshore oil and gas extraction and emissions caused by ocean-based tourism. The report also includes data from an Oceana analysis which revealed that stopping the expansion of offshore drilling and phasing down existing fossil fuel demand-based production alone would deliver about 18% of needed emissions reductions.
According to the Paris Agreement, global temperature rise must remain below 2 degrees Celsius in order to avoid the worst, irreversible impacts of climate change, including water scarcity and rampant weather catastrophes. The Earth’s oceans have absorbed 90% of Earth’s excess heat that would otherwise enter the atmosphere. But, as global temperatures continue to rise, the oceans’ temperature has hit record levels as well, forcing it to the limits of excess heat absorption and leading to acidification and deoxygenation of the waters.
However, the Ocean Panel promotes viewing the ocean as a major solution to climate change rather than a victim.
“The climate crisis is here, affecting all of us, and it’s getting worse,” said Dr. Kathryn Matthews, the report's co-author and Oceana chief scientist. “As a scientist, it’s hard to stomach inaction, especially when we have some obvious solutions at hand. If world leaders are serious about tackling catastrophic climate change, the ocean is a clear place to start.”
The five ocean-based solutions provided in the report include marine conservation and restoration, ocean-based renewable energy, decarbonizing ocean-based transport, using low-carbon ocean-based foods, and marine carbon capture and removal. The most significant emissions reductions would come from stopping expansion of offshore oil and gas extraction paired with renewable energy projects such as offshore wind, tidal power, and floating solar.
Based on UN estimates, over $5 trillion in financing will be needed yearly in order to effectively address climate change mitigation, and prioritization of certain climate strategies will be necessary. According to this report, ocean-based pathways should be at the top of the list.
