According to research published in Nature Climate Change, the melting of the Arctic permafrost and the subsequent carbon dioxide and methane gas release will lead to damage costs of an extra $43 trillion by the end of the 22nd Century.
This represents a 13% increase on the predicted economic impact of climate change, from $326tn to £369tn, by 2200.
Researchers Chris Hope of the University of Cambridge and Kevin Schaefer of The National Snow and Ice Data Center (NSIDC) at the University of Colorado Boulder modeled the range of possible global economic impacts of permafrost emissions under various Intergovernmental Panel on Climate Change (IPCC) scenarios.
They estimated that economic impacts directly affect a country's gross domestic product (GDP), through the loss of agricultural output for example.
Image credits: klem@s / Flickr