IUCN launches report on ocean risk

A new report by International Union for Conservation of Nature (IUCN), commissioned by the global (re)insurance company XL Catlin, warns of unprecedented changes occurring in the ocean and points to the pressing need for a multi-sectoral approach, with businesses, government and the insurance industry working together to address their potential impacts.

The report, Ocean connections: An introduction to rising risks from a warming, changing ocean, examines the impacts of rising ocean temperatures and other stressors such as ocean acidification – the decrease in pH of the ocean – and deoxygenation – a reduction in the amount of oxygen dissolved in the ocean – on the marine environment and human life, and their potential consequences for society.

“The changing chemistry and physics of the ocean as a result of climate change can have devastating consequences for human life, health and livelihoods, the scale of which we are only beginning to realise,” says Carl Gustaf Lundin, Director of the IUCN’s Global Marine and Polar Programme. “The insurance industry can play a significant role in helping businesses, governments and communities mitigate damages and better adapt to these changes. Insurance against the loss of ecosystems can provide the much needed protection for people dependent on them for their livelihoods, while encouraging their sustainable management.”