Our Strategy

A Message from our President & CEO

2021 was another year filled with unexpected events and challenges brought on by the continuation of the COVID-19 pandemic. We entered the year with zero vessels operating, with our entire team focused on how to resume operations while prioritizing the health, safety and well-being of our guests, team members and communities we visit above all else. In July 2021 we launched our “Great Cruise Comeback” and just last month we reached a significant milestone in our phased re-launch with the final ship in our 28-ship fleet returning to service in May 2022. The herculean effort to restart our cruise operations was successful because of the hard work and dedication of our exceptional team who consistently demonstrated extraordinary resilience, skill and passion.

While we are focused on our operational and financial recovery from the pandemic, we are also more focused now than ever on driving a positive impact on society and the environment through our global sustainability program, Sail & Sustain. Our second annual Environmental, Social and Governance (ESG) report highlights several initiatives that support the key pillars of our Sail & Sustain program.

Recently we announced our commitment to pursue net zero greenhouse gas emissions by 2050, which will truly be one of the most defining voyages our Company will ever embark on. Our net zero ambition spans not only our operations but also our entire value chain as we aim to bring key partners, including our vast network of nearly 20,000 global suppliers and approximately 35,000 team members, along with us on this transformational journey. To support our path to net zero, we have also committed to develop short- and near-term greenhouse gas reduction targets. Getting to net zero will be complex, requiring significant innovation and collaboration with partners such as shipyards, engine manufacturers and classification societies to accelerate the technological advancement needed to get us to this goal, but we are committed to doing our part in this shared global effort. Our Compensation Committee further doubled down on this commitment by including an ESG metric tied to our progress on setting greenhouse gas reduction targets as part of our 2022 short-term management incentive compensation plan.

We believe it is our responsibility to contribute to the communities around the world where we live, work, visit and serve. In 2021, we provided over $12 million of cash and in-kind donations to communities and organizations around the world. We also began offering a Paid Volunteer Day to all U.S. shoreside team members to further encourage involvement in their local communities. When the devasting events began to unfold in Ukraine earlier this year, we quickly mobilized to support and assist our impacted team members. We have activated our crew relief fund and are providing logistical, communication and mental health support to affected team members. In addition, we pledged $100,000 to Save the Children’s Ukraine Crisis Relief Fund and invited partners including guests, travel partners and team members to contribute as well.

Our top-notch team is our most valuable asset, and we remain committed to maintaining a safe, diverse and inclusive culture which supports and empowers our ~35,000 team members globally. We were honored to be recognized for this commitment with our naming to the Forbes World’s Best Employers 2021 list. To support our diversity, equity and inclusion (DE&I) efforts, I am pleased to report that I signed the CEO Action Pledge for Diversity and Inclusion in March, further cementing our commitment to fostering an inclusive workforce, where diverse backgrounds are represented, engaged and empowered to generate and execute on innovative ideas. We also recognize the value of a diverse supplier base and nearly 40% of our total U.S. supply chain spending in 2021 was with small businesses or businesses with minority, veteran or economically disadvantaged qualifications.

As we look forward to the future, we are committed to being responsible corporate citizens and ESG leaders which we believe go hand-in-hand with delivering long-term value for all of our stakeholders. We are proud of our accomplishments to date and invite you to join us as we continue our “Sail & Sustain” journey.

Thank you for your continued support,

Frank J. Del Rio
President and Chief Executive Officer
Norwegian Cruise Line Holdings, Ltd.