Carnival Corporation Raises GHG Reduction Target to 25% by 2029

Carnival Corporation (NYSE: CCL), the world's largest cruise company, announced a new sustainability target to achieve a 25% reduction in greenhouse gas (GHG) emissions intensity by 2029, measured on an available lower berth days basis compared to its 2019 baseline. After successfully reaching its 2030 goal five years ahead of schedule – cutting GHG emissions intensity by 20% in 2025 – the company raised its original target an ambitious five percentage points and accelerated its timeline to achieve the goal a full year early in 2029. The efficiency work behind that milestone is also showing up on the bottom line with fuel-efficiency gains on track to save the company roughly $650 million in 2026 alone versus 2019 levels.

Carnival Corporation's progress, detailed in its newly published 2025 Sustainability Report, is driven by a comprehensive decarbonization strategy focused on operational improvements, energy efficiency investments and low-GHG power generation. Together, these efforts have delivered sustained emissions reductions over nearly two decades. Since 2008, the company has reduced its GHG emissions intensity by 44%, meaning emissions associated with each guest sailing have been cut roughly in half during that period.

"Achieving our 2030 GHG reduction goal five years early is a significant milestone that reflects years of disciplined investment, innovation and operational focus across our global fleet," said Josh Weinstein, CEO of Carnival Corporation. "But we're not treating it as a finish line. Our new 2029 target ensures we're continuing to improve every part of the equation, from using less fuel to advancing the tools, technologies and infrastructure that will help us lower emissions even further over time. That's good for the planet, good for our business and gives us real confidence in the road ahead."

To achieve its 2029 target, Carnival Corporation's decarbonization strategy prioritizes lowering energy use today while developing the flexibility to pursue multiple fuel pathways in the future:

Operational Improvements & Energy Efficiency Investments
One way Carnival Corporation reduces its GHG emissions intensity is by continuously improving ship operations and adopting technologies that lower energy use across its fleet. Together, these efforts help reduce fuel consumption, drive performance and support the company's ongoing emissions reduction goals, while maintaining the award-winning guest experiences its cruise lines are known for.

Operational enhancements, including smart itinerary planning and voyage optimization tools, help identify the most fuel-efficient routes and sailing patterns. Carnival Corporation is also integrating technologies that reduce energy demand, improve hydrodynamic performance and capture energy that would otherwise be wasted. These efforts range from Power Saver Packs that reduce HVAC and lighting loads to waste heat recovery systems and Air Lubrication Systems that help ships move more efficiently through the water. Complementing these initiatives, seven new ships scheduled to join the fleet through 2033 are expected to deliver more than 20% greater efficiency per passenger than current ships.

Low-GHG Power Generation
At the same time, Carnival Corporation is investing in a range of low-GHG technologies and solutions, recognizing that no single approach alone will deliver net-zero ship operations. This includes a growing fleet of LNG-powered ships, expanded shore power capabilities that allow ships to connect to local electrical grids while in port, increased biofuel use as more supply comes online and peak energy use shaving with battery storage systems. Together, these investments are advancing lower-emission operations today while building flexibility to adopt future energy solutions as they mature.

Carnival Corporation's decarbonization strategy is a cornerstone of its climate action efforts and is one of its many planet-focused initiatives, which also include programs to advance a circular economy model, support biodiversity and conservation, and promote sustainable tourism. To learn more about Carnival Corporation's purpose and its commitment to sustainability, visit Our Impact.

This release may include claims related to our GHG emissions reductions, goals, initiatives, accomplishments and progress reports. Supporting data for such GHG emissions claims, including data verification information, is published annually in our Sustainability Reports on carnivalcorp.com/impact.