Norwegian Cruise Line Holdings’ has released its annual ESG report that outlines efforts made in support of the five Sail & Sustain pillars in addition to the long and short term goals adopted in the past year.

As part of its global sustainability programme Sail & Sustain, Norwegian Cruise Line Holdings Ltd., leading cruise line that operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands, recently released its 2022 Environmental, Social, and Governance (ESG) report and Sustainability Accounting Standards Board (SASB) index.

NCL Holdings says in a press statement that in addition to efforts made in support of the five Sail & Sustain pillars of reducing environmental impact, sailing safely, strengthening communities, empowering people, as well as operating with integrity and accountability, the report outlines the progress made by NCL Holdings towards its ESG strategy and targets.

“We recognise 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. Our Sail & Sustain programme is key to moving our business forward– it goes hand-in-hand with delivering long-term value for the company and its stakeholders,” says Harry Sommer, president and chief executive officer-designate of Norwegian Cruise Line Holdings Ltd.

Among the many ESG initiatives covered in the report, one of the key highlights on reducing environmental impact of the past year includes an ambitious climate action strategy and targets to reduce greenhouse gas (GHG) emissions to NetZero by 2050. NCL Holdings is now targeting a reduction in GHG intensity of 10 pc by 2026 and 25 pc by 2030.

NCL Holdings add that two modified Prima Class ships, expected to be delivered in 2027 and 2028, will accommodate the use of green methanol as an alternative fuel source in the future thus reinforcing its commitment to decarbonisation.

It adds that in the past year, NCL Holdings has also emphasised on public health programmes to protect guests and prioritised safety and security efforts with public health training and education efforts. In terms of CSR, there are ongoing corporate efforts to philanthropic contributions, honouring the contribution between travel and education while offsetting emissions and supporting communities through carbon offsets have also been prioritised.

The statement goes on to say that NCL Holdings has purchased 1.6 million carbon offsets to date contributing to 14 projects globally including in South Korea, Brazil and Turkiye. The offsets purchased not only support the company’s decarbonisation journey but also invest in cleaner energy sources and local job creation in these communities.

Apart from these highlights, NCL Holdings has also focused on operating with integrity and accountability that clearly reflects in its inclusion of  an ESG metric for the first time as part of the 2022 short-term incentive (STI), which was once again approved for 2023.

It says that this metric is tied to the progress made on NCL Holdings GHG reduction goals and builds greater accountability across the Company to accelerate the progress on ESG goals. Fostering a culture of ethical conduct and maintaining a strong board with diverse experiences and backgrounds remain other key aspects.