Carnival Corporation Honored with Three Prestigious ESG Shipping Awards for 2024

Rhea-AI Summary

Carnival , the world's largest cruise company, along with its AIDA Cruises line, received three prestigious ESG Shipping Awards for environmental excellence at an international ceremony in Athens, Greece. The awards recognize Carnival's commitment to sustainability and responsible business practices.

The company received the Gold Climate Change Leader Award for its pioneering LNG program, resulting in a 10% reduction in GHG emissions compared to 2011. AIDA Cruises earned the Gold Technology Leader Award for the largest lithium-ion battery system in passenger shipping, enabling net-zero emissions operations.

Additionally, Carnival was honored with the Bronze Environment Leader Award for its aggressive food waste reduction strategies, achieving a 40% reduction from its 2019 baseline and surpassing its 2025 goal. These recognitions highlight Carnival's leadership in sustainability and its progress towards a net-zero GHG future by 2050.

Positive

• Carnival won three prestigious ESG Shipping Awards.
• Gold Climate Change Leader Award for LNG program, reducing GHG emissions by 10% since 2011.
• Gold Technology Leader Award for AIDA Cruises’ 10-megawatt-hour lithium-ion battery system.
• Bronze Environment Leader Award for achieving a 40% reduction in food waste per person.
• LNG-capable ships to represent 25% of Carnival's fleet capacity by 2028.
• Carnival's focus on GHG reductions and renewable fuel adaptability by 2025.

Negative

• Future reliance on LNG and renewable fuel technology is contingent on availability by 2028.
• Despite awards, full net zero GHG emission target is set for 2050, which is distant and uncertain.
• AIDAprima's battery system can only achieve net-zero emissions for periods.

World's largest cruise company recognized for sustainability leadership and impact in environment, social, and governance

MIAMI, May 23, 2024 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), the world's largest cruise company and its AIDA Cruises line were honored with three ESG Shipping Awards for environmental excellence at an international ceremony in Athens, Greece this week.

The ESG Shipping Awards International 2024, the world's inaugural event of its kind, was established in partnership with the Ministry of Shipping and the Hellenic Chamber of Shipping. Awards were presented in 11 categories to recognize companies in the global shipping industry that demonstrate innovation and exceptional commitment to sustainability and responsible business practices.

"We're committed to leading the way in sustainable cruising and are incredibly proud to be recognized for the remarkable progress we've made toward cutting greenhouse gas (GHG) emissions and reducing food waste across every aspect of our operation," said Bill Burke, chief maritime officer. "The programs honored in the ESG Shipping Awards are just three of countless examples of decisive actions we're taking to shrink our environmental footprint and pursue net zero GHG emission by 2050."

Carnival Corporation and AIDA Cruises were recognized in the following categories:

Gold Climate Change Leader Award:
Carnival Corporation received top honors for its Liquefied Natural Gas (LNG) program, a fuel technology it pioneered within the cruise industry as the best readily available fuel to deliver immediate GHG reductions. The 10 LNG-capable ships Carnival Corporation currently has in operation, in addition to three more expected for delivery, will collectively represent approximately 25% of its total fleet capacity by 2028 and are adaptable for renewable fuels when they become widely available. By investing in LNG powered ships and taking other decisive climate actions, the company is producing 10+% less total GHG emissions today than 2011, its peak historical year.

Gold Technology Leader Award:
AIDA Cruises was recognized for having onboard AIDAprima the largest lithium-ion battery energy storage system in passenger shipping, with a capacity of 10-megawatt hours. Installed in 2022 and extensively tested in 2023, this innovative technology can be used to supply energy to the ship and allows it to operate in a net-zero emission mode for limited periods of time. This next-generation battery storage system is just one example of AIDA's important efforts to reduce GHG emissions across its fleet.

Bronze Environment Leader Award:
Carnival Corporation was also awarded for its aggressive food waste reduction actions to minimize unused food across every aspect of food preparation and dining services onboard. This includes investments in innovative food waste management technologies such as biodigesters and dehydrators that naturally break down and responsibly dispose of unused food. Together, these strategies help reduce the company's "foodprint," delivering a 40+% reduction in food waste per person relative to its 2019 baseline. This performance surpasses the company's 2025 goal, building increased momentum toward its 50% reduction target set for 2030.

Collectively, these recognitions underscore Carnival Corporation's commitment to sustainability leadership and to reducing the company's environmental impact. For more information on the company's long-term sustainability vision and progress under its six focus areas – climate action; circular economy; sustainable tourism; good health and well-being; diversity, equity and inclusion; and biodiversity and conservation – visit Carnival Corporation's dedicated report website, www.CarnivalSustainability.com.

This release may include claims related to our greenhouse gas emissions reductions, goals, initiatives, accomplishments, and progress reports. Supporting data for such greenhouse gas emissions claims, including data verification information, is published in our Sustainability Reports on carnivalcorp.com/sustainability on an annual basis.

About Carnival Corporation & plc
Carnival Corporation & plc is the largest global cruise company, and among the largest leisure travel companies, with a portfolio of world-class cruise lines – AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises (Australia), P&O Cruises (UK), Princess Cruises, and Seabourn.

Additional information can be found on www.carnivalcorp.com, www.aida.de, www.carnival.com, www.costacruise.com, www.cunard.com, www.hollandamerica.com, www.pocruises.com.au, www.pocruises.com, www.princess.com, and www.seabourn.com.

For information on Carnival Corporation's industry-leading sustainability initiatives, visit www.carnivalsustainability.com.

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SOURCE Carnival Corporation & plc

FAQ

What awards did Carnival receive in the ESG Shipping Awards 2024?

Carnival received the Gold Climate Change Leader Award, Gold Technology Leader Award, and Bronze Environment Leader Award.

How has Carnival reduced its GHG emissions?

Carnival has reduced its GHG emissions by over 10% since 2011 through its LNG program.

What is the significance of AIDA Cruises' lithium-ion battery system?

AIDA Cruises' lithium-ion battery system, with a 10-megawatt-hour capacity, allows the ship to operate in a net-zero emission mode for periods.

What progress has Carnival made in food waste reduction?

Carnival has achieved a 40% reduction in food waste per person relative to its 2019 baseline.

What percentage of Carnival ’s fleet will be LNG-capable by 2028?

LNG-capable ships will represent approximately 25% of Carnival 's fleet capacity by 2028.

What is Carnival 's long-term GHG emission target?

Carnival aims to achieve net-zero GHG emissions by 2050.