Storms and sea level rise could cost ports billions
Ports around the world stand to suffer billions of dollars in losses if greenhouse gas emissions continue to grow, a new report finds. Extreme weather, flooding, and rising sea levels would all damage vital seaport infrastructure, disrupting global supply lines.
Losses from storms and climate-related port disruptions could near $10 billion a year by 2050, according to the report, commissioned by the nonprofit Environmental Defense Fund (EDF). By 2100, without action on climate change, those costs could balloon to more than $25 billion a year. For context, that last figure is more than the total operating profits for the entire global container shipping industry in a year.
Many ports are already overwhelmed after the COVID-19 pandemic...