Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) (the ”Company”), a
leading global cruise company which operates Norwegian Cruise Line,
Oceania Cruises and Regent Seven Seas Cruises, today published its
2020 Environmental, Social and Governance (“ESG”) Report including
its first Sustainability Accounting Standards Board (SASB) index as
part of the Company’s global sustainability program, Sail &
Sustain. The Company also unveiled its redesigned Sail &
Sustain program which 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.
“Despite the pandemic’s unprecedented headwinds,
we have never wavered on our commitment to drive a positive impact
on society and the environment through our global sustainability
program, Sail & Sustain. Our newly redesigned Sail &
Sustain strategy, centered around five key pillars, takes a
comprehensive and holistic approach addressing all aspects of ESG
across our Company. In addition, we have aligned to the United
Nations Sustainable Development Goals and have identified 10 goals
where we believe we can make the greatest contribution to achieve a
more sustainable future for all,” said Frank Del Rio, president and
chief executive officer of Norwegian Cruise Line Holdings Ltd. “As
we look forward, we are committed to making a lasting impact on the
world as responsible corporate citizens and ESG leaders. We are
proud of our accomplishments to date and invite you to join us on
our “Sail & Sustain” journey as we continue to build on this
foundation for years to come.”
The 2020 ESG Report highlights the Company’s key
advancements since its last published report as well as impactful
initiatives underway, including:
Reducing Environmental
Impact
- Created a
long-term climate action strategy and goal to reach carbon
neutrality through reducing carbon intensity, identifying and
investing in technology including exploring alternative fuels and
implementing a voluntary carbon offset program.
- Committed to
offset three million metric tons of carbon dioxide equivalent
(MTCO2e) over a three-year period beginning in 2021 to take
immediate action and help bridge the gap in its decarbonization
efforts until new technology becomes available. This is the
equivalent of 7,539,593,613 miles driven by an average passenger
car.
- Strong focus on
reducing single-use plastics through initiatives including
Norwegian Cruise Line becoming the first major global cruise
company in 2020 to be plastic water bottle free through its
partnership with JUST Goods, Inc.
- Completed new
state-of-the-art PortMiami terminal which was constructed to LEED
Gold standards.
- Continued focus
on water stewardship by self-producing approximately 83% of water
used on board in 2020.
Sailing Safely
- Enhanced existing
robust commitment to health and safety in response to COVID-19 with
its comprehensive SailSAFE™ health and safety program. The robust
SailSAFE program consists of new and enhanced protocols to create
multiple layers of protection against COVID-19. Upon a return to
cruising, initial voyages will operate with fully vaccinated guests
and crew, combined with preventative SailSAFE protocols.
- Co-formed the
Healthy Sail Panel in collaboration with Royal Caribbean Group, a
group of 11 leading experts to help inform the cruise industry in
the development of new and enhanced cruise health and safety
standards in response to the global COVID-19 pandemic.
- Established the
SailSAFE Global Health and Wellness Council, the Company’s expert
public health council, chaired by former Commissioner of the U.S.
Food and Drug Administration Dr. Scott Gottlieb, which complements
the work of the Healthy Sail Panel.
Empowering People
- Strengthened
commitment to maintaining the Company’s culture of diversity,
equity and inclusion in the workplace through its partnership with
the Florida Diversity Council, diverse hiring initiatives and
launch of diversity, equity and inclusion online training,
including unconscious bias training in 2020. As of year-end 2020,
approximately 50% of the global shoreside manager and above team
was female and just under 50% of the U.S. shoreside manager and
above team self-identified as an under-represented minority.
- As part of its
supplier diversity program, approximately 45% of total U.S. supply
chain spending in 2020 was with small businesses or businesses with
minority, veteran or economically disadvantaged
qualifications.
- Named by Forbes
to the 2021 list of America’s Best Large Employers, ranking among
the top 75 companies in the overall Large Employer category and
among the top 10 companies in the Travel & Leisure sector.
Strengthening our
Communities
- Announced a Paid
Volunteer Day for all U.S. shoreside team members beginning in 2021
to support community involvement efforts.
- Provided $10
million of cash support to six Alaska port communities severely
impacted by the ongoing cruise voyage suspension.
- Donated $100,000
in Visa gift cards to help support the cruise members of the
International Longshoremen’s Association Local 1416 which saw 60%
of its business wiped out nearly overnight due to the
pandemic.
- Provided more
than $2 million of in-kind humanitarian relief to support various
community organizations worldwide throughout 2020 and 2021
including approximately $1.2 million in nonperishable food and
water donations to be provided to Feeding America’s local Miami
food bank Feeding South Florida by the end of 2021.
- Launched
numerous philanthropic initiatives including the Giving Joy
campaign which recognized hardworking teachers.
Operating with Integrity and
Accountability
- Established ESG
oversight at the Board of Directors level with the Technology,
Environmental, Safety and Security (TESS) Committee.
- Commitment to
diversity, equity & inclusion starts with the Board which is
one-third female, one-third under-represented minorities and 55.5%
diverse, with two of these diverse directors serving in Board
leadership positions.
“We strive to continually improve our ESG
disclosures and today’s publication of our first comprehensive ESG
report and the first Sustainability Accounting Standards Board
(SASB) index in the cruise industry is a significant step forward
in our efforts to provide critical transparency to our key
stakeholders around our Sail & Sustain strategy,” said Andrea
DeMarco, senior vice president of ESG, Investor Relations and
Corporate Communications of Norwegian Cruise Line Holdings Ltd.
“Sustainability is integrated in our Company’s culture and we are
committed to maintaining our high standards of operational
excellence, achieving results the right way and creating value for
all of our stakeholders.”
The 2020 ESG Report is part of the Company’s
global sustainability program, Sail & Sustain, centered around
its commitment to drive a positive impact on society and the
environment while delivering on its vision to be the vacation of
choice for everyone around the world. The 2020 ESG Report can be
found on the Company’s website at
https://nclhltd.com/sustainability.
About Norwegian Cruise Line Holdings Ltd.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH)
is a leading global cruise company which operates the Norwegian
Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands.
With a combined fleet of 28 ships with approximately 60,000 berths,
these brands offer itineraries to more than 490 destinations
worldwide. The Company has nine additional ships scheduled for
delivery through 2027, comprising approximately 24,000 berths.
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 be the vacation of
choice for everyone around the world. 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.
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 in this release,
including, without limitation, those regarding our business
strategy, financial position, results of operations, plans,
prospects, actions taken or strategies being considered with
respect to our liquidity position, valuation and appraisals of our
assets and objectives of management for future operations
(including those regarding our expectations, plans or goals for our
sustainability program and decarbonization efforts, expected fleet
additions, our voluntary suspension, our ability to weather the
impacts of the COVID-19 pandemic and the length of time we can
withstand a suspension of voyages, our expectations regarding the
resumption of cruise voyages and the timing for such resumption of
cruise voyages, the implementation of and effectiveness of our
health and safety protocols, operational position, demand for
voyages, financing opportunities and extensions, and future cost
mitigation and cash conservation efforts and efforts to reduce
operating expenses and capital expenditures) are forward-looking
statements. Many, but not all, of these statements can be found by
looking for words like “expect,” “anticipate,” “goal,” “strategy,”
“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: the spread of epidemics, pandemics and viral outbreaks
and specifically, the COVID-19 pandemic, including its effect on
the ability or desire of people to travel (including on cruises),
which are expected to continue to adversely impact our results,
operations, outlook, plans, goals, growth, reputation, cash flows,
liquidity, demand for voyages and share price; our ability to
comply with the CDC’s Framework for Conditional Sailing Order and
any additional or future regulatory restrictions on our operations
and to otherwise develop enhanced health and safety protocols to
adapt to the pandemic’s unique challenges once operations resume
and to otherwise safely resume our operations when conditions
allow; legislation prohibiting companies from verifying vaccination
status; coordination and cooperation with the CDC, the federal
government and global public health authorities to take precautions
to protect the health, safety and security of guests, crew and the
communities visited and the implementation of any such precautions;
our ability to work with lenders and others or otherwise pursue
options to defer, renegotiate or refinance 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, which may not be available on favorable
terms, or at all, and may be dilutive to existing shareholders; our
indebtedness and restrictions in the agreements governing our
indebtedness that require us to maintain minimum levels of
liquidity and otherwise limit our flexibility in operating our
business, including the significant portion of assets that are
collateral under these agreements; the accuracy of any appraisals
of our assets as a result of the impact of COVID-19 or otherwise;
our success in reducing operating expenses and capital expenditures
and the impact of any such reductions; our guests’ election to take
cash refunds in lieu of future cruise credits or the continuation
of any trends relating to such election; trends in, or changes to,
future bookings and our ability to take future reservations and
receive deposits related thereto; the unavailability of ports of
call; future increases in the price of, or major changes or
reduction in, commercial airline services; adverse events impacting
the security of travel, such as terrorist acts, armed conflict and
threats thereof, acts of piracy, and other international events;
adverse incidents involving cruise ships; adverse general economic
and related factors, such as fluctuating or increasing levels of
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; any further impairment of our
trademarks, trade names or goodwill; breaches in data security or
other disturbances to our information technology 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;
fluctuations in foreign currency exchange rates; overcapacity in
key markets or globally; our expansion into and investments in new
markets; 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; our
inability to recruit or retain qualified personnel or the loss of
key personnel or employee relations issues; our reliance on third
parties to provide hotel management services for certain ships and
certain other services; our inability to keep pace with
developments in technology; changes involving the tax and
environmental regulatory regimes in which we operate; and other
factors set forth under “Risk Factors” in our most recently filed
Annual Report on Form 10-K, Quarterly Report on Form 10-Q and
subsequent filings with the Securities and Exchange Commission.
Additionally, many of these risks and uncertainties are currently
amplified by and will continue to be amplified by, or in the future
may be amplified by, the COVID-19 pandemic. It is not possible to
predict or identify all such risks. There may be additional risks
that we consider immaterial or which are unknown. The above
examples are not exhaustive and new risks emerge from time to time.
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 contained herein 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.
Investor Relations &
Media Contact |
Andrea DeMarco |
(305)
468-2339InvestorRelations@nclcorp.comJessica John(786)
913-2902 |
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