Royal Caribbean Group announces program to achieve net zero emissions by 2050

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“Destination Net Zero” is the result of decades of progress and deep commitment to embed sustainability throughout the organization.

Royal Caribbean Group (NYSE: RCL) has announced a major step in its sustainability journey: “Destination Net Zero”, a broad decarbonization strategy that includes its commitment to setting science-based targets (“Science-Based Targets” -SBT -) and achieve zero net emissions by 2050.

“Decades ago we established our race towards sustainability, our vision now is to make carbon-free cruises a reality in the next two decades,” said Richard Fain, Chairman and CEO of Royal Caribbean Group. “Today we have announced what will be the most important“ destination ”of all in the history of our company,“ Destination Net Zero ”, an ambitious strategy to reduce emissions, protect our oceans and ensure the viability of the hundreds of destinations through which our passengers and crew care so much. ”

Royal Caribbean Group’s Destination Net Zero is the result of decades of progress and deep commitment to embedding sustainability throughout the organization. Over the next 18 to 24 months, the cruise company will develop targets that will be validated by the “Science Based Targets Initiative (SBTi)” the first engagement of its kind in the cruise industry.
Work will begin following the publication of SBTi’s shipping methodology. Science-based targets show companies how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to help limit global warming.

Along the journey to “net zero”, there will be milestones that will be key to moving forward. One of the most ambitious includes the delivery of a “net zero” cruise ship by 2035.
To achieve something so ambitious, the company will rely on strong partnerships with governments, suppliers and shipyards to develop alternative and accessible fuels and technologies.

The company’s approach to achieving these measurable goals builds on its track record of designing and operating some of the most energy efficient ships in the sea. Thanks to improved hull design and system upgrades, such as AC chillers that use 30-40% less energy, Royal Caribbean Group has consistently delivered a new generation of ships between 20 and 25% more efficient than its predecessors.

From Silversea Cruises’ “Evolution” Project – the cruise industry’s first hybrid-powered ship to see the light of day in the summer of 2023 – to the Kansas wind farm that will offset up to 12% of our Scope 1 emissions and 2 per year, Royal Caribbean Group is already executing its strategy.

“Destination Net Zero” to promote the development of emission reduction technology and alternative fuel solutions.

“Royal Caribbean Group has a history of innovation in every aspect and level of the company,” said William K. Reilly, Chairman of the Board of Directors of the Royal Caribbean Health, Safety and Environment Committee. “This is another important step on the serious and ambitious path towards preserving the health and charm of the sea and the beauty of the oceans.”

“Destination Net Zero” is based on four points or areas:

1) Modernization of the fleet of our global brands through the introduction of 13 new energy efficient and alternative fuel ships, including the recently announced “Evolution” Project – the first ship in the industry to eliminate all local emissions while it is in the port.
2) Continuous investment in energy efficiency programs for its fleet, including energy saving technologies, improved data systems and digitization.
3) Development of alternative fuels and energy solutions.
4) Optimized deployment and integration of supply chains. strategic ground supply.

Royal Caribbean’s journey to reduce its environmental footprint began almost 30 years ago with Save the Waves, an ambitious effort that grew from a recycling program to a company-wide approach to incorporating challenging, achievable and measurable sustainability goals into the foundations of corporate culture. Over the next three decades, protecting the planet’s limited natural resources evolved organically from a choice to a way of life for the company and its employees.

In 2016, the Group built on this legacy of progress and commitment by partnering with the World Wildlife Fund (WWF). With the goal of ensuring long-term health of the oceans and fulfilling a more sustainable cruise vision, Royal Caribbean Group set ambitious goals for 2020 to reduce its environmental footprint, support ocean conservation globally and raise awareness among the most of 5 million passengers of the company on the importance of the conservation of the oceans. Earlier this year, the company announced that it had met or exceeded its 2020 targets, with the exception of the sustainable seafood sourcing target (expected to be met in 2022), which was affected by the suspension of travel due to the pandemic.

“Destination Net Zero will help guide our decision-making for years to come and is based on the Royal Caribbean Group’s mantra of continuous improvement,” said Silvia Garrigo, Chief Environmental, Social, Governance (ESG) Officer, Royal Caribbean Group. “While we may not have all the answers now, this comprehensive company-wide strategy amplifies our commitment to long-term emission reductions and provides us with a roadmap on how to get there.”

“Ensuring the long-term health of our oceans requires collective action to effectively address climate change and limit warming to 1.5 ° C,” said Carter Roberts, President and CEO of WWF. “Through our partnership, Royal Caribbean Group has embarked on a journey to improve its overall sustainability. Achieving net zero emissions by 2050 will require innovation and collaboration at scale, and we at WWF look forward to working together to move towards this milestone. ”