A Message From

Our President and CEO

2020 was an unprecedented year with significant impacts to the world and, in particular, on our business from the effects of COVID-19. In response to the global pandemic, we paused our guest cruise operations in mid-March 2020. At that point, we safely returned over 260,000 guests back home, and once it was clear that this would be an extended pause in our operations, we repatriated over 90,000 crew members. During the ensuing months, we accelerated the exit of 19 vessels from our fleet, negotiated the delay of ships on order, raised over $23 billion in liquidity, dramatically reduced spending and pivoted our shoreside operations to allow for remote work, where possible. Through the extraordinary efforts of our team, I am pleased to say that in March 2021 we turned our focus back towards guest operations and are now working on a phased return to service over time.

At Carnival Corporation & plc, our highest responsibility and top priority is compliance, environmental protection and the health, safety and well-being of our guests, the people in the communities we touch and serve, and our shipboard and shoreside employees. On this foundation, we aspire to deliver unmatched joyful vacations for our guests, always exceeding their expectations and in doing so driving outstanding shareholder value. We are committed to a positive and just corporate culture, based on inclusion and the power of diversity. We operate with integrity, trust and respect for each other — communicating, coordinating and collaborating while seeking candor, openness and transparency at all times. And we aspire to be an exemplary corporate citizen leaving the people and the places we touch even better.

As part of our commitment to this vision, we continued to make advancements in our sustainability efforts, and during the pandemic we worked to transition from our 2020 sustainability goals to establish our 2030 sustainability goals and 2050 aspirations. Our goals and aspirations revolve around six focus areas. In each focus area, we have identified key goals, targets and aspirations that will guide our actions to further strengthen our vision and performance. The focus areas we selected specifically align with a number of the United Nations’ Sustainable Development Goals. These areas include climate action; circular economy (waste reduction); sustainable tourism; health and well-being; diversity, equity and inclusion; biodiversity and conservation.

Essential to our sustainability performance are our actions and commitments related to climate action. We are committed to decarbonization and aspire to be carbon neutral by 2050. As part of our strategy we are working toward transitioning our energy needs to alternative fuels, investing in new low-carbon or zero-carbon emission technologies, and partnering with various organizations and stakeholders to support and accelerate our decarbonization efforts.

We are proud to lead the cruise industry use of liquefied natural gas (LNG) to power cruise ships. We were the first to do so and now have a total of 11 next-generation cruise ships that will have joined the fleet through 2025, which will represent nearly 20% of our total capacity, including four ships already in operation. We are particularly proud to have welcomed our latest LNG ships Iona and Mardi Gras. Our efforts have also resulted in operating for the first time an LNG cruise ship in North America. Further, we have equipped 40% of our fleet with shore-power capabilities, enabling our ships to use shoreside electric power where available while in port. We have also pioneered the use of Advanced Air Quality Systems on board cruise ships and over 80% of our fleet has been equipped with these systems. Additionally, we have equipped 32% of our ships with state of the art food digesters to help ensure non-food items do not end up in the waste stream.

As a global employer of team members around the world from over 100 countries, I want to also highlight our efforts around diversity, equity and inclusion. Carnival Corporation is committed to building a diverse and inclusive workforce and providing our employees with a positive work environment and equal opportunities for professional growth. As a testament to this commitment, in 2020 we received a series of recognitions for our companywide operations and dedication to diversity, equity and inclusion, including honors from Forbes on the publication’s annual listings of America’s Best Employers for Diversity and America’s Best Employers for Women. Carnival Corporation & plc was also recognized on 3BL Media’s listing of the 100 Best Corporate Citizens for 2020, in addition to earning a perfect score in the Human Rights Campaign’s Corporate Equality Index, designating the company as a Best Place to Work for LGBTQ Equality. We remain intensely focused on achieving and sustaining diversity and inclusion across all areas and aspects of our operations.

Looking ahead, I am proud of how well we are weathering the storm and I am very grateful to all of those who helped make it happen, particularly our Carnival Corporation & plc family, from ship to shore — it truly takes all hands on deck! I invite you to sail with us on our beautiful ships, with our amazing Carnival family and to read more about our new sustainability goals, aspirations, and performance in this report.

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