Loss of coral reefs caused by rising sea temperatures could cost $1tn globally

Loss of Great Barrier Reef alone could cost north Queensland 1m visitors a year, imperilling 10,000 jobs and draining $1bn from economy

The loss of coral reefs caused by rising sea temperatures could cost $1 trillion globally, a report from Australia's Climate Council has projected, with the loss of Queensland's Great Barrier Reef alone costing that region 1m visitors a year, imperilling 10,000 jobs and draining $1bn from the economy.

The longest global coral bleaching event on record, which began in 2014 and has affected some reefs in consecutive years, has given reefs little chance to recover, and should be a "wake-up call" to act to save the natural and economic assets, the Climate Council's Lesley Hughes said.