Carnival Corp is saving the world ahead of schedule
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Carnival Corp is saving the world ahead of schedule

Carnival Corp is the world’s largest cruise line operator, and it’s committed to eliminating the damage that the industry causes to the environment. The first step on that journey is to reduce its carbon footprint by 25% over five years to 2020. But in its recently released 2016 sustainability report, which describes the progress the company made towards the goal last year, Carnival claims its well ahead of schedule.

Carnival Corp’s share price has appreciated by 34% so far this year

 carnival corp graph 230817

Source: Yahoo Finance

Arnold Donald, Carnival’s president and CEO, said: “we continue to make significant progress toward our 202 sustainability goals. I’m very pleased to report we expect to achieve our corporate reduction target ahead of schedule, thanks to a number of initiatives we’ve implemented across our 10 world-leading cruise brands.”

In 2015, the company identified 10 sustainability goals to achieve by 2020 which would have the combined impact of reducing carbon emissions by a quarter while “enhancing the health, safety, and security” of its passengers and crew, and promoting sustainable business practices among its “brands, business partners, and suppliers.”

In 2016, the company operated 102 ships with a 221,000-passenger capacity. Over the full twelve months, Carnival ferried 11.5 million cruisers to-and-from 760 destinations. According to the company’s chief maritime officer, Bill Burke:

“We take our commitment to sustainability and the environment very seriously and take proactive measures to ensure that sustainability is ingrained in the core of our business practices.”

Disclosure
Dominion holds Carnival Corporation in its Global Trends Managed Fund.


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