Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) (the “Company”), a
leading global cruise company which operates the Norwegian Cruise
Line, Oceania Cruises, and Regent Seven Seas Cruises brands, today
published its 2023 “Sail & Sustain” Report, which details the
Company’s progress in its global sustainability program,
emphasizing the Company’s dedication to driving positive
environmental and societal impact. This effort is a cornerstone of
the recently unveiled “Charting the Course” strategy, guiding the
Company’s mission for guests to “Vacation Better, Experience More.”
"Sustainability is at the core of our 'Charting the Course'
strategy, which is built on four key pillars: people, product,
platform, and performance, all deeply rooted in the foundation of
our Sail & Sustain program. We understand that the success of
our business is inextricably linked to the health of our planet and
communities, and that’s why we are dedicated to holistically
integrating sustainability into our business strategy," said Harry
Sommer, President and CEO of Norwegian Cruise Line Holdings Ltd.
"Our commitment to sustainability drives us to maintain high
standards of operational excellence, achieve results responsibly,
and create lasting value for our business and stakeholders."
The 2023 Sail & Sustain Report highlights key
advancements and commitments 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 has received recognitions for its
advancements through the “Sail & Sustain” program, earning
accolades such as the ESG Leader Gold Award at the 2024 ESG
Shipping Awards, as well as being listed in Forbes’s Best Employer
Lists in 2023 and 2024.
Key highlights from the 2023 Report under each
pillar:
Reducing Environmental Impact:
- Active Steps Toward Climate
Action: In 2023, Norwegian Cruise Line Holdings introduced
short- and near-term GHG intensity reduction targets to guide its
path toward net zero by 2050. The net zero ambition applies to
shipboard and shoreside operations (Scopes 1 & 2) and the value
chain (Scope 3) including supply chain, well-to-wake fuel
emissions, business travel, and more. Short- and near-term targets
include reducing GHG intensity1 by 10% by 2026 and 25% by 2030,
compared with a 2019 baseline.
- Expanding Shore Power
Capabilities: By the end of 2023, the Company achieved its
2024 target of equipping 50% of the fleet with shore power
technology and remains on track to equip ~70% by 2025.
- Exploring Alternative
Fuels: In 2023, we achieved our goal to test 20% of the
fleet with a biodiesel blend by expanding tests to four ships
throughout the year. Our new target is for 40% of the fleet to test
biodiesel by 2024.
- Boosting Onboard Water
Production: In 2023, the Company consumed ~7.6 million
cubic meters of fresh water on board, with ~89% produced on board
through evaporators and reverse osmosis plants, reducing the need
to bunker fresh water. The target is to reduce bunkering by 4% by
2025, compared with 2019.
- Improving Waste
Management: The Company is committed to reducing onboard
waste, successfully recycling, incinerating, or donating ~48% of
total ship waste in 2023 through innovative technologies, staff
training, and stringent recycling programs.
- Enhancing Greenhouse Gas
Emissions Reporting: Annually, the Company’s Scope 1,
Scope 2, and relevant Scope 3 emissions are measured, estimated,
and independently verified. Since 2019, emissions data and other
climate-related information have been disclosed to the CDP, with
the most recent submission earning a climate change score of “B,”
higher than the Marine Transport Sector, North America, and global
averages.
- Sourcing
Responsibly: In 2023, supplier diversity efforts allowed
more than $635 million to be spent with small businesses and
businesses with minority, veteran, or economically disadvantaged
qualifications.
Sailing Safely:
- Strengthening Health and
Safety Oversight: The Health Safety Environment &
Security Committee oversees the implementation of established
standards for safe ship operations, pollution prevention, and
security.
- Maintaining Robust Public
Health Protocols: Norwegian Cruise Line Holdings operates
a comprehensive public health program with a 24/7/365 compliance
culture, including external and internal public health
professionals who regularly visit each ship.
- Providing Excellent Medical
Care: Each ship is equipped with a state-of-the-art
medical center staffed by highly qualified doctors and nurses,
providing high-quality care for guests and crew.
Strengthening Our Communities:
- Committing to Charitable
Giving: In 2023, the Company gave nearly $1.6 million in
cash, cruise, and other in-kind donations to various causes. This
includes significant contributions to disaster relief efforts, such
as for the wildfires in Maui, and support for local
communities.
- Recognizing Educators
through the Giving Joy Program: Norwegian Cruise Line’s
Giving Joy Program honored 20 educators with a free weeklong cruise
for their dedication to education and expanded the program to
provide discounts and onboard credits for teachers.
- Supporting Military
Families: The Norwegian Military Appreciation Program
extends exclusive cruise fare discounts to military members,
veterans, and their spouses, with over 220,000 registered since the
program's launch in 2022.
- Supporting Renewable Energy
Projects: We successfully purchased 3 million carbon
offsets, contributing to 16 projects globally. The offsets not only
support our decarbonization journey but invest in cleaner energy
sources and local job creation in these communities.
Empowering People:
- Promoting Diversity, Equity,
and Inclusion: The Company launched a Corporate Leadership
Diversity Initiative to reinforce inclusive hiring practices. In
2023, of the new hires and promotions in shoreside positions, 51%
and 62%, respectively, were women. Additionally, the Company
supports five Team Member Resource Groups (TMRGs) to connect and
support employees.
- Enhancing Employee
Benefits: Benefits include fully paid maternity,
paternity, and adoption leave, and family planning assistance for
full-time U.S. shoreside team members. In 2023, the Company’s team
member cruise benefit program was revamped to include new deeply
discounted rates at Norwegian Cruise Line and interline rates at
Regent Seven Seas Cruises.
Operating with Integrity and
Accountability:
- Maintaining Diverse Board
Composition: 50% of the Board of Directors’ seats are held
by women and/or underrepresented minorities.
- Upholding Ethical
Conduct: Norwegian Cruise Line Holdings emphasizes
conducting business legally and ethically, requiring all team
members, executives, and directors to adhere to the Code of Ethical
Business Conduct at all times.
About Sail & Sustain
Sail & Sustain is Norwegian Cruise Line Holdings’ global
sustainability program centered around its commitment to drive a
positive impact on society and the environment while delivering on
its vision to allow its guests to “Vacation Better, Experience
More.” This program is structured around five pillars developed
through cross-functional collaboration with key internal and
external stakeholders. The pillars include: Reducing Environmental
Impact, Sailing Safely, Empowering People, Strengthening our
Communities and Operating with Integrity and Accountability.
About Norwegian Cruise Line Holdings
Ltd.Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a
leading global cruise company which operates Norwegian Cruise Line,
Oceania Cruises and Regent Seven Seas Cruises. With a combined
fleet of 32 ships and approximately 66,500 berths, NCLH offers
itineraries to approximately 700 destinations worldwide. NCLH
expects to add 13 additional ships across its three brands through
2036, which will add approximately 41,000 berths to its fleet. To
learn more, visit www.nclhltd.com.
Cautionary Statement Concerning Forward-Looking
Statements
Some of the statements, estimates or projections contained in
this release are “forward-looking statements” within the meaning of
the U.S. federal securities laws intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical facts contained, or incorporated by reference, in
this release, including, without limitation, our expectations
regarding our future financial position, including our liquidity
requirements and future capital expenditures, plans, prospects,
expected fleet additions and cancellations, including expected
timing thereof, our expectations regarding the impact of
macroeconomic conditions and recent global events, and expectations
relating to our sustainability program, corporate social
responsibility initiatives, the impacts of climate change, and
decarbonization efforts may be forward-looking statements. Many,
but not all, of these statements can be found by looking for words
like “expect,” “anticipate,” “goal,” “project,” “plan,” “believe,”
“seek,” “will,” “may,” “forecast,” “estimate,” “intend,” “future”
and similar words. Forward-looking statements do not guarantee
future performance and may involve risks, uncertainties and other
factors which could cause our actual results, performance or
achievements to differ materially from the future results,
performance or achievements expressed or implied in those
forward-looking statements. Examples of these risks, uncertainties
and other factors include, but are not limited to the impact of:
adverse general economic factors, such as fluctuating or increasing
levels of interest rates, inflation, unemployment, underemployment
and the volatility of fuel prices, declines in the securities and
real estate markets, and perceptions of these conditions that
decrease the level of disposable income of consumers or consumer
confidence; implementing precautions in coordination with
regulators and global public health authorities to protect the
health, safety and security of guests, crew and the communities we
visit and to comply with related regulatory restrictions; our
indebtedness and restrictions in the agreements governing our
indebtedness that require us to maintain minimum levels of
liquidity and be in compliance with maintenance covenants and
otherwise limit our flexibility in operating our business,
including the significant portion of assets that are collateral
under these agreements; our ability to work with lenders and others
or otherwise pursue options to defer, renegotiate, refinance or
restructure our existing debt profile, near-term debt amortization,
newbuild related payments and other obligations and to work with
credit card processors to satisfy current or potential future
demands for collateral on cash advanced from customers relating to
future cruises; our need for additional financing or financing to
optimize our balance sheet, which may not be available on favorable
terms, or at all, and our outstanding exchangeable notes and any
future financing which may be dilutive to existing shareholders;
the unavailability of ports of call; future increases in the price
of, or major changes, disruptions or reduction in, commercial
airline services; changes involving the tax and environmental
regulatory regimes in which we operate, including new regulations
aimed at reducing greenhouse gas emissions; the accuracy of any
appraisals of our assets; our success in controlling operating
expenses and capital expenditures; trends in, or changes to, future
bookings and our ability to take future reservations and receive
deposits related thereto; adverse events impacting the security of
travel, or customer perceptions of the security of travel, such as
terrorist acts, armed conflict, such as Russia’s invasion of
Ukraine or the Israel-Hamas war, or threats thereof, acts of
piracy, and other international events; public health crises,
including the COVID-19 pandemic, and their effect on the ability or
desire of people to travel (including on cruises); adverse
incidents involving cruise ships; our ability to maintain and
strengthen our brand; breaches in data security or other
disturbances to our information technology systems and other
networks or our actual or perceived failure to comply with
requirements regarding data privacy and protection; changes in fuel
prices and the type of fuel we are permitted to use and/or other
cruise operating costs; mechanical malfunctions and repairs, delays
in our shipbuilding program, maintenance and refurbishments and the
consolidation of qualified shipyard facilities; the risks and
increased costs associated with operating internationally; our
inability to recruit or retain qualified personnel or the loss of
key personnel or employee relations issues; impacts related to
climate change and our ability to achieve our climate-related or
other sustainability goals; our inability to obtain adequate
insurance coverage; pending or threatened litigation,
investigations and enforcement actions; volatility and disruptions
in the global credit and financial markets, which may adversely
affect our ability to borrow and could increase our counterparty
credit risks, including those under our credit facilities,
derivatives, contingent obligations, insurance contracts and new
ship progress payment guarantees; any further impairment of our
trademarks, trade names or goodwill; our reliance on third parties
to provide hotel management services for certain ships and certain
other services; fluctuations in foreign currency exchange rates;
our expansion into new markets and investments in new markets and
land-based destination projects; overcapacity in key markets or
globally; and other factors set forth under “Risk Factors” in our
most recently filed Annual Report on Form 10-K and subsequent
filings with the Securities and Exchange Commission. The above
examples are not exhaustive and new risks emerge from time to time.
There may be additional risks that we consider immaterial or which
are unknown. Such forward-looking statements are based on our
current beliefs, assumptions, expectations, estimates and
projections regarding our present and future business strategies
and the environment in which we expect to operate in the future.
These forward-looking statements speak only as of the date made. We
expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement
to reflect any change in our expectations with regard thereto or
any change of events, conditions or circumstances on which any such
statement was based, except as required by law.
Media Contact
Sarah Inmon(786) 812-3233NCLHmedia@nclcorp.com
1 GHG intensity is measured by MTCO2e on a per Capacity Day
basis. The short- and near-term 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). Capacity
Days is defined as berths available for sale multiplied by the
number of cruise days for the period for ships in service.
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