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To ensure the development of sustainability, the Europe Union (EU) set the goal of becoming a climate-neutral economy by 2050. The EU’s ambitious new target cannot be achieved without the involvement of all modes of transport in order to reduce emissions. According to it, the development of inland waterway transport is a key to ensuring sustainability. Calculations proving the benefits of developing the use of inland waterway transport for ensuring sustainability using the example of the Republic of Lithuania were carried out in this paper. Namely, the calculation of the benefit from the transfer of part of the cargo flow from the busy highway A1 Kaunas–Klaipeda to Neman River (inland waterway of international importance E41). Modeling and detailed comparison using the method of calculating the impact on the main external costs (accidents, air pollution, climate change, noise, habitat damage, congestion) showed that external costs are lower when transporting cargo by river. Increasing the barge capacity from 1000 t to 1800 t reduces the external cost of climate change by 25%. Moreover, replacing diesel with liquefied natural gas can reduce the external costs of climate change by 15% to 25%. The greatest effect is achieved by reducing the level of noise, congestion, and safety. It is possible to enlarge the positive effect by using energy generated by solar or wind power plants for electric-powered ships.
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