RCG-Royal Caribbean Group released its 15th annual Seastainability Report, providing an in-depth update on the corporate responsibility strategy and performance of the company across its 3 wholly owned brands - RCI-Royal Caribbean International, Celebrity, and Silversea Cruises.
In 2022, Royal Caribbean Group achieved a significant milestone in its Environmental, Social, and Governance (ESG) efforts. This included the 30th anniversary of its first environmental program, Save the Waves, and the release of its inaugural Task Force on Climate-Related Financial Disclosures (TCFD) report, which was published alongside the 2022 Seastainability Report.
The annual report presents the company's targets and strategies for reducing emissions, ensuring the safety and well-being of its guests and employees, and promoting sustainable tourism. It also highlights the company's commitments to protecting the oceans it sails and empowering the communities it visits.
The report's highlights include:
- Short-term target to reduce carbon intensity by double digits by 2025, in comparison with 2019, advancing the Group's vision for net zero emissions by 2050 - Destination Net Zero.
- Signing a partnership agreement with Maersk McKinney Moller Center for Zero Carbon Shipping to develop zero carbon technologies/solutions for the maritime industry.
- Completing the first renewable diesel pilot in the United States on Royal Caribbean's Navigator OTS.
- Introducing the first net-zero cruise terminal in the world in Galveston TX extending the company's efforts/strategies from its vessels to shoreside operations.
- Creating an Executive Diversity Council to prioritize Diversity, Equity and Inclusion (DEI) initiatives and create accountability, empowering/inspiring employees.
- Confirming shoreside gender pay equity analysis shows that 99.98% of women are equally compensated in comparison with male employees at the Group.
- Launching the Royal Caribbean Kickstarter Program to support tourism-related entrepreneurs in The Bahamas with training/seed-funding, empowering the communities visited by the company.
- Growing the number of sustainable tours certified by the GSTC-Global Sustainable Tourism Council (now 3,500+ around the world).
- Increasing its sustainable seafood sourcing – 83% MSC-Marine Stewardship Council and 75% ASC-Aquaculture Stewardship Council certified.
- Renewing partnership with WWF-World Wildlife Fund and committing an additional $5M to preserve ocean health.
- The report references the guidelines of the GRI-Global Reporting Initiative and is aligned with the SASB-Sustainability Accounting Standards Board standards for Cruise Lines.
Royal Caribbean Group started its sustainability journey more than 30 years ago and has continued to be dedicated to developing innovative solutions for a better future. The company has built a strong portfolio of technologies that enhance the energy efficiency, water treatment, and waste management. Furthermore, the company has developed eco-friendly ships to move closer to achieving its vision of Destinations Net Zero, which aims to achieve net zero emissions by 2050.