Arctic warming will cost world billions: Pew study

Climate warming in the Arctic will cost the global economy billions of dollars in 2010 alone, according to a study by the U.S.-based Pew Environment Group released Friday.

The environmental advocacy organization held a news conference in Iqaluit

The study estimated that melting sea ice and permafrost as well as dwindling snow cover would cost the world between $61 billion and $370 billion US in 2010.

The authors predict that will rise to at least $2.4 trillion by the year 2050.

CBC