Carnival Corporation Joins Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping

Rhea-AI Summary

Carnival Corporation, the world's largest cruise company, has joined the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, marking a significant step toward decarbonizing the global shipping industry. This nonprofit aims to achieve zero carbon shipping by 2050 and will collaborate with Carnival and over 40 partners to develop sustainable solutions. Carnival commits to achieving net carbon-neutral ship operations by 2050 and aims to reduce carbon emissions intensity by 40% by 2030, while leading in the use of liquefied natural gas (LNG) for its fleet.

Positive

• Carnival Corporation is the first cruise company to join the Mærsk Mc-Kinney Møller Center, enhancing its decarbonization strategy.
• The company aims for net carbon-neutral operations by 2050 and has set a target to reduce carbon emission intensity by 40% by 2030.
• Investment in 11 LNG-enabled cruise ships reflects leadership in sustainable cruise operations.
• Collaboration with 40+ partners in the center helps advance R&D for low and zero carbon emissions technologies.

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World's largest cruise company is first in cruise sector to join research and development center committed to facilitating and accelerating decarbonization of the global shipping industry

MIAMI, May 19, 2022 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL) (NYSE: CUK), the world's largest cruise company, today announced it has joined the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, a nonprofit, independent research and development center committed to accelerating the transition toward a net-zero future for the global maritime industry. Carnival Corporation, with nine global cruise line brands, is the first cruise company to join the center's global community.

The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping aims to advance the maritime industry's transition to a low carbon future through collaboration across the entire value chain, with the long-term ambition of reaching zero carbon shipping by 2050. Together with its partners, the center is facilitating the development and implementation of sustainable solutions, new technologies and viable transition pathways while driving needed policies and regulations to enable the transition.

This shared vision closely aligns with Carnival Corporation's own decarbonization goals and aspiration to achieve net carbon-neutral ship operations by 2050. To achieve this, the company is partnering with key organizations to help identify and scale new technologies not yet ready for the cruise industry.

"We look forward to working with a strong alliance of some of the best minds in science, engineering and business who share our long-term ambition for a successful and sustainable decarbonization of the global maritime industry," said Tom Strang, senior vice president of maritime affairs for Carnival Corporation. "At Carnival Corporation, our highest responsibility and top priority is always compliance, environmental protection, and the health, safety and well-being of our guests, the people in the communities we visit and serve, and our shipboard and shoreside personnel."

Added Strang: "As part of our commitment to decarbonization and carbon footprint reduction efforts, we are continuing to innovate to effect change, and joining the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping is another important step as we continue our ongoing focus to establish a path to zero emission cruising over time."

Through the partnership, Carnival Corporation will have the opportunity to collaborate with industry players and like-minded organizations across the energy and shipping sectors, and have access to learnings, knowledge, and research and development activities for identifying viable decarbonization pathways. Partners of the center comprise over 40 companies, including global stakeholders from a variety of shipping-related industries such as fuel suppliers, marine classification societies, shipping companies, engineering and manufacturing companies, energy companies and more.

Based in Copenhagen, Denmark, the center was established in 2020 as an independent player in the maritime eco-system to leverage the power of industry collaboration to help accelerate and contribute to the decarbonization of the global maritime industry. The center's strategic objectives include setting the course for a sustainable industry transition; driving collaboration and applied research and innovation; and advocating for regulatory reform, transparency and accountability that will ensure a level playing field and that long-term sustainable solutions are implemented.

Carnival Corporation remains focused on its commitment and efforts to establish a pathway to decarbonization, as part of its longer-term sustainability plan and vision. This includes goals and aspirations for 2030 and beyond that are guided by six critical sustainability focus areas, including climate action; circular economy; sustainable tourism; good health and well-being; diversity, equity and inclusion; and biodiversity and conservation. Among these priorities, the company and its brands have committed to reducing carbon emission intensity by 40% by 2030 and have long-term aspirations to achieve net carbon-neutral ship operations by 2050.

Following a peak in absolute carbon emissions in 2011, despite significant capacity growth since that time, the company is continuing initiatives to reduce emissions over time and identify a pathway to decarbonization. As part of this commitment, the company is working toward transitioning its energy needs to alternative fuels and investing in new low-carbon or zero-carbon emission technologies, in addition to partnering with various organizations and stakeholders to support and accelerate decarbonization efforts.

As part of its plan for carbon footprint reduction, the company leads the cruise industry's use of liquefied natural gas (LNG) to power cruise ships, with a total of 11 next-generation, LNG-enabled cruise ships that will have joined the fleet through 2025. The company also pioneered the use of Advanced Air Quality Systems on board its ships, with over 90% of its non-LNG ships now equipped with these advanced systems.

In addition, over 45% of its fleet has been equipped with shore-power capabilities, enabling ships to use shoreside electric power where available while in port. The company is also actively involved in investing in and supporting the transition to alternative fuels and technologies, such as biofuels, large scale batteries and fuel cells.

These efforts, along with a series of others underway, support and strengthen Carnival Corporation's commitment to sustainability, responsible operations and protecting the environment, as outlined in its comprehensive set of 2030 goals and aspirations for 2050. More information on the company's sustainability efforts is available at www.CarnivalSustainability.com.

About Carnival Corporation & plc
Carnival Corporation & plc is one of the world's largest leisure travel companies with a portfolio of nine of the world's leading cruise lines sailing to all seven continents. With operations in North America, Australia, Europe and Asia, its portfolio features Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard.

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

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SOURCE Carnival Corporation & plc

FAQ

What is Carnival Corporation's sustainability goal for 2050?

Carnival Corporation aims to achieve net carbon-neutral ship operations by 2050.

Which organization has Carnival Corporation joined for decarbonization efforts?

Carnival Corporation has joined the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping.

What is the carbon emission reduction target set by Carnival Corporation for 2030?

The company targets a 40% reduction in carbon emission intensity by 2030.

How many LNG-enabled ships is Carnival Corporation investing in?

Carnival Corporation is investing in 11 next-generation LNG-enabled cruise ships.

What is the long-term ambition of the Mærsk Mc-Kinney Møller Center?

The center aims to reach zero carbon shipping by 2050.