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.
The study is the first to put an estimated dollar value on global warming resulting from the Arctic's declining ability to act as "air conditioner" of the planet.
It arrived at its number by estimating how much the loss of snow, ice and permafrost would have on warming, expressing that in equivalent tonnes of carbon dioxide and multiplying that increase by what it called the "social cost of carbon." Those include estimates of the cost of climate change on agriculture, energy production, water availability, sea level rise, and flooding.
Read more: http://www.cbc.ca/technology/story/2010/02/05/pew-arctic-warming-cost.html#socialcomments#ixzz0etNHV5Id