Dr Matthew Clarkson, a postdoctoral fellow at Otago University's department of chemistry, who co-authored the study, said the findings were helping scientists understand the threat posed to marine life by modern-day ocean acidification.
While the amount of carbon added to the atmosphere to trigger the mass extinction was probably greater than today's fossil fuel reserves, it was released at a rate similar to modern emissions.
The team analysed an ancient but detailed record contained in what were once ocean-floor rocks to work out what drove the extinction.
They found the rapid rate of carbon release was a critical factor in ocean acidification.
The extinction event lasted tens of thousands of years - vastly longer than the extinction that wiped out the dinosaurs after the impact of a comet or asteroid - but the most deadly phase occurred within the 10,000 years of ocean acidification.
"This is a worrying finding, considering that we can already see an increase in ocean acidity today that is the result of human carbon emissions," Dr Clarkson said.