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Norwegian Cruise Line Holdings Publishes Annual Environmental, Social and Governance (ESG) Report Detailing Progress on Sustainability Initiatives | ||
Mumbai, Maharashtra, India
Norwegian Cruise Line Holdings Ltd., a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands, published its 2022 Environmental, Social and Governance (ESG) report and Sustainability Accounting Standards Board (SASB) index as part of its global sustainability program, Sail & Sustain. The report highlights the progress on NCLH’s ESG strategy and goals, including its efforts across the five pillars of Sail & Sustain: Reducing Environmental Impact, Sailing Safely, Strengthening our Communities, Empowering People and Operating with Integrity and Accountability. Norwegian Cruise Line Holdings Ltd.
“We recognize the need for corporations to take action to help address global challenges including climate change and sustainability, and at Norwegian Cruise Line Holdings we are committed to doing our part by operating in a way that is socially responsible, respectful of the environment, and drives a positive impact on society,” said Harry Sommer, president and chief executive officer-elect of Norwegian Cruise Line Holdings Ltd. “Our Sail & Sustain program is key to moving our business forward – it goes hand-in-hand with delivering long-term value for the company and its stakeholders.”
“Over the past year we continued to make great progress with new goals and initiatives across our Sail & Sustain focus areas as we help chart a path to a more sustainable future,” said Jessica John, vice president of ESG, Investor Relations, and Corporate Communications of Norwegian Cruise Line Holdings Ltd. “This year’s report highlights not only these advancements but also our commitment to increase and strengthen our disclosures each year to provide our stakeholders with critical transparency.”
John continued, “Whether it's through our plan to pursue net zero by 2050 or our efforts to support the communities we live in or visit worldwide, we're set on finding innovative ways to Sail & Sustain.”
Among the many ESG initiatives covered in the report, key highlights from the past year include: Reducing Environmental Impact
Ambitious climate action strategy and targets to reduce greenhouse gas (“GHG”) emissions: NCLH recently announced its revamped climate action strategy focused on efficiency, innovation and collaboration, along with ambitious short- and near-term emissions reduction targets that support the Company’s pursuit of net zero by 2050. The Company is now targeting a reduction in GHG intensity of 10% by 2026 and 25% by 2030, compared to a 2019 baseline with intensity measured on a per Capacity Day basis(1).
Robust public health program to protect guests, crew and communities we visit: NCLH operates a comprehensive 24/7/365 public health and safety program, working closely with health authorities around the world to implement and continuously improve policies and procedures that meet and, in many cases, exceed regulations. Crew members are also highly trained in the Company’s Outbreak Prevention and Response Plan, designed to mitigate, and help prevent the spread of communicable diseases.
Enhanced employee benefits demonstrate commitment to team members: NCLH expanded its suite of employee benefits by adding new Family Care Benefits which provides fully paid maternity, paternity and adoption leave as well as family planning assistance for full-time U.S shoreside team members.
Ongoing corporate efforts to philanthropic contributions: NCLH contributed more than $2 million in monetary and in-kind donations to nonprofit organizations around the world. This included over $300,000 donated to aid in disaster and crisis relief, including Hurricane Ian recovery efforts in Southwest Florida.
Tied ESG metric to compensation: The Board of Directors’ Compensation Committee approved the inclusion of an ESG metric for the first time as part of the 2022 short-term incentive (“STI”) and once again approved the inclusion of an ESG metric in 2023. This metric is tried to the progress made on NCLH’s GHG reduction goals and builds greater accountability across the Company to accelerate the progress on ESG goals.
The 2022 ESG report and additional information on NCLH’s global sustainability program, Sail & Sustain, can be found at www.nclhltd.com/sustainability.
(1) Targets cover the Company’s emissions from its fleet of ships, islands and facilities (Scopes 1 & 2) as well as upstream fuel- and energy-related activities, including well-to-tank emissions (portion of Scope 3). About Norwegian Cruise Line Holdings Ltd.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a leading global cruise company that operates Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. With a combined fleet of 30 ships and more than 60,000 berths, NCLH offers itineraries to approximately 700 destinations worldwide. NCLH has seven additional ships scheduled for delivery across its three brands, comprising nearly 19,000 berths. |
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