An “Act Now or Pay Later” report released Monday by RTI International, a nonprofit research institute for the Environmental Defense Fund (EDF), estimated that “without further action to reduce emissions, climate change impacts could cost the shipping industry an additional $25 billion every year by 2100.”
Average total operating profits for the global container shipping industry were less than $20 billion annually from 2018 to 2020, the report noted for context.
After growing rapidly in the last...