NCLH-Norwegian Cruise Line Holdings partners with Global Maritime Forum

   October 22, 2023 ,   Cruise Industry

NCLH-Norwegian Cruise Line Holdings Ltd., a prominent global cruise company operating NCL-Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises, has announced a strategic partnership with the Global Maritime Forum, a global non-profit organization dedicated to shaping the future of international seaborne trade with a focus on sustainable, long-term economic development and human well-being.

This partnership closely aligns with the company's overarching efforts to make a positive impact on society and the environment through its comprehensive sustainability program, Sail & Sustain. Part of this commitment is the company's pledge to achieve net zero greenhouse gas emissions by 2050.

Earlier this year, the company unveiled its short- and near-term greenhouse gas (GHG) targets as part of its revised climate action strategy, emphasizing three key pillars: Efficiency, Innovation, and Collaboration. This new partnership underscores the significance of the Collaboration pillar as the company intends to actively engage in various initiatives led by the Global Maritime Forum, with a particular focus on the Getting to Zero Coalition. Originally founded in conjunction with the World Economic Forum, Friends of Ocean Action, and the Global Maritime Forum, the Getting to Zero Coalition is a formidable alliance comprising over 200 organizations across maritime, energy, infrastructure, and finance sectors. Their collective aim is to put commercially viable deep-sea vessels with zero emission propulsion systems powered by zero emission fuels into operation by 2030. This initiative supports the broader maritime industry's path toward complete decarbonization by 2050. Furthermore, the company is exploring opportunities for engagement that center on human sustainability and inclusion throughout the maritime industry.

Established in 2017, the Global Maritime Forum serves as a vital platform for dialogue and collective action, uniting influential decision-makers through its various working groups and workshops. One of its notable initiatives, the Poseidon Principles, offers a framework guiding financial institutions in incorporating climate considerations into lending decisions, aligning with the climate-related objectives of the International Maritime Organization. To date, 30 financial institutions have become signatories, representing approximately US$200 billion in loans to international shipping, accounting for over 70% of the global shipping finance portfolio. Throughout its history, Norwegian Cruise Line Holdings Ltd. has actively participated in and provided data to these signatory banks, aligning with the principles of the Poseidon Principles.