Royal Caribbean Group has published its fourteenth annual sustainability report, offering a comprehensive update of the company’s Environmental, Social and Governance (ESG) framework and activities across its three wholly owned brands: Royal Caribbean International, Celebrity Cruises and Silversea Cruises.
New for 2021, Royal Caribbean Group has updated its ESG framework to better reflect the company’s contribution to a more sustainable cruise industry. The ESG framework focuses on five different ways to deliver great vacation experiences responsibly: advocating for communities and the environment; providing unforgettable cruise experiences; promoting human rights and being one of the best places to work; advancing net-zero emissions innovation; and governing responsibly.
“At Royal Caribbean Group, we are all focused on providing the best possible vacations while doing so responsibly,” said Jason Liberty, CEO of Royal Caribbean Group. “This report reflects our commitment to continuous innovation and building a sustainable cruise industry as we grow our business.”.
This year's ESG report highlights the company's ongoing efforts towards decarbonization, particularly through the company's Destination Net Zero strategy, which aims to set science-based targets (SBTs) and achieve net-zero emissions by 2050.
Along with other ESG initiatives, Destination Net Zero will ensure that Royal Caribbean Group develops ambitious and measurable targets for the continued reduction of carbon emissions, sustainable business development and growth, sustainable tourism, and waste management. Destination Net Zero encapsulates Royal Caribbean Group’s approach to serving as a catalyst for innovation in the industry, with actions that include:
- Introduction of a hybrid fuel cell design that allows zero emissions in port.
- Prepare a future-oriented shipbuilding portfolio for the company based on fuel flexibility and innovation that ensures each new class of ship is 20% more energy efficient than its predecessor.
- Developing waste management technologies that can convert waste into energy. Currently, 100% of the fleet is equipped to be landfill-free.
- To be prepared, through on-ground power, to connect to local electrical grids as soon as they become available.
This year’s report was based on RCG’s 2021 materiality assessment and references the 2020 Global Reporting Initiative (GRI) Core Reporting Standards. The report is also aligned, to the extent possible, with the Sustainable Accounting Standards Board (SASB) standards.
