Societal Harms in 2026

Editions
2026 2025
Changes in Ocean state and human pressures carry significant societal consequences. Tropical storms and floods result in major economic costs, and each additional tonne of CO2 emitted into the atmosphere adds to the growing bill for society. Beyond these impacts, maritime insurance costs are rising while the Ocean remains both an important and dangerous route for human mobility.
Human PressuresOpportunities For Humanity
Human PressuresOpportunities For Humanity

High economic losses from tropical storms and floods in 2024.

Economic losses from tropical storms and floods can vary greatly from one year to another. Tropical storms draw their energy from warm Ocean waters, making the Ocean a key driver of storm intensity and frequency. Over the long term, related economic losses have increased decade by decade since the early 1980s, with an acceleration during the past two decades. In 2024, damage costs due to tropical storms and flood surges were nearly twice as high as in 2023, reaching US$ 212 billion, of which only 34% were insured. This high level is largely explained by two strong hurricanes. Other long-term consequences add to the direct economic damage of tropical cyclones, such as 79,000 children prevented from accessing education between 2000 and 2020. Monetary evaluation of losses from tropical storms and floods can shape decisions and actions to reduce exposure to risk, but these effects occur within broader socio-economic systems where underinvestment persists and losses from extreme events can reinforce vulnerability, inequality, and instability.

Geopolitical instability has increased maritime insurance costs to US$ 39.9 billion.

The global marine insurance premium base reached US$ 39.9 billion in 2024, representing a 1.5% increase from 2023, and a 21% increase since 2021. The largest share of risk is held by cargo (57%), followed by hull (24%), offshore energy (12%), and marine liability (7%). While expanding trade has contributed to insurance premium growth, geopolitical instability and international conflicts have emerged as major additional drivers, creating uncertainty across global trade and becoming critical factors of risk.

Half of the social cost of climate change falls on the Ocean economy.

The social cost of carbon estimates the economic damages caused by emitting one additional tonne of CO2 into the atmosphere. For the Ocean, climate damages to fisheries and mariculture, coral reefs, mangroves, and ports were estimated at US$ 48 per tonne of CO2 in 2020, equalling all other carbon social costs including those on health, agriculture and infrastructure and highlighting the importance of including Ocean impacts in carbon pricing and climate policy to fully capture societal harms. Much of this increase comes from declining fisheries and the degradation of coastal protection and biodiversity. Despite its importance for guiding policy, only 28% of global emissions are currently covered by a carbon price.

8,260 migrants lost their lives at sea.

In 2025, the number of dead or missing migrants at sea stands at high levels (8,260 fatalities), highlighting that the Ocean remains an important and unsafe route for human mobility. This reflects the Ocean as a space of transit, risk, and human activity, where significant humanitarian challenges persist. The drivers of migration are complex and multifaceted. Economic and political insecurity due to resource grabbing and severe climatic conditions, including extreme weather events, sea-level rise, desertification, and water scarcity, are among the factors that push people to leave their countries.