MASHINIi

Carnival Corporation.

CCL.US | Sea and coastal passenger water transport

Carnival Corporation is a global cruise company and one of the largest players in the leisure travel industry. The company operates a portfolio of cruise brands, including Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises (Australia), an...Show More

Ethical Profile

Mixed.

Carnival Corporation's ethical standing presents a mixed picture. The company faced a $110 million judgment in a lawsuit related to confiscated Cuban property and paid $5 million in cybersecurity fines, plus a $1.25 million settlement for data breaches affecting approximately 180,000 individuals. Reports also link Carnival to a major COVID-19 outbreak on the Ruby Princess, leading to a negligence lawsuit, and $6.29 million in employment offense penalties. On the positive side, Carnival has raised over $29 million for St. Jude Children's Research Hospital. The company has also exceeded several environmental goals, including equipping 64% of its fleet with shore power and reducing single-use items by 500 million. It earned a perfect score on the Corporate Equality Index for LGBTQ+ workplace equality.

Value Scores

Better Health for All-60
-100100
Fair Money & Economic Opportunity0
-100100
Fair Pay & Worker Respect-40
-100100
Fair Trade & Ethical Sourcing0
-100100
Honest & Fair Business-10
-100100
Kind to Animals0
-100100
No War, No Weapons-10
-100100
Planet-Friendly Business-60
-100100
Respect for Cultures & Communities50
-100100
Safe & Smart Tech-30
-100100
Zero Waste & Sustainable Products-40
-100100

Better Health for All

-60

A court found Carnival negligent for proceeding with the Ruby Princess cruise in March 2020, despite knowing or should have known about the heightened risk of coronavirus infection.

1
This voyage resulted in 663 COVID-19 infections and 28 fatalities.
2
In November 2006, a Carnival Liberty voyage saw over 700 individuals fall ill with norovirus, leading the company to implement safety measures like suspending self-service buffets.
3
In response to the COVID-19 pandemic, Carnival offered its cruise ships as temporary hospital facilities, potentially providing up to 1,000 hospital rooms for non-COVID-19 patients.
4
Carnival has established Health, Environmental, Safety, Security Committees to monitor compliance.
5
The company has invested in advanced waste management technologies, installing over 600 biodigesters by 2023, which avoided over 31,000 metric tons of equivalent greenhouse gas emissions.
6
Carnival also focuses on employee well-being through expanded wellness programs
7
and has partnered with St. Jude Children's Research Hospital since 2010, raising over $29 million for pediatric cancer research.
8

Fair Money & Economic Opportunity

0

Carnival Corporation is a global cruise company and does not offer lending, insurance, or deposit services to consumers. As such, the company does not have APRs, fee structures, loan/insurance books, or customer finance data to evaluate against the Fair Money & Economic Opportunity KPIs. While Carnival Foundation engages in charitable giving, scholarships, and job training programs

1
, and partners on entrepreneurship funding
2
, these initiatives are not part of a financial services portfolio or quantified as a percentage of profit reinvested in community finance, as defined by the rubric.

Fair Pay & Worker Respect

-40

The CEO-to-median employee pay ratio for Carnival Corporation in 2024 was 1398:1.

1
CEO Josh Weinstein's total compensation was $23,566,603, while the median employee pay was $16,854.
2
The company noted that most of those considered median employees are ship-based and work fewer than twelve months of the year.
3

Fair Trade & Ethical Sourcing

0

No specific, quantifiable data was provided across the articles for any of the Fair Trade & Ethical Sourcing KPIs. While Carnival Corporation has policies and commitments related to ethical sourcing, such as a Responsible and Sustainable Sourcing Policy

1
and a Business Partner Code of Conduct
2
, and has undertaken activities like a 2023 mapping exercise of over 30,000 business partners
3
, these do not provide the specific company-wide percentages or metrics required by the rubric's KPIs for scoring. For instance, animal welfare certifications (e.g., 34% GAP certified chicken by 2023
4
, 55% cage-free eggs by FY2023
5
) are for specific products and not a percentage of overall tier-1 spend. Similarly, audit frequency, forced/child labor incidents, traceability coverage, remediation speed, ethical clause coverage, materials risk index, and supplier diversity spend lack the explicit quantitative data needed for assessment.
6

Honest & Fair Business

-10

Carnival Corporation faced a $110 million judgment in November 2023 from a lawsuit related to alleged 'trafficking' in confiscated Cuban property.

1
The company has not identified any financial restatements.
2
Its board of directors includes 83% independent members.
3
Audit procedures covered 95% of total assets.
4
A comprehensive Code of Business Conduct and Ethics applies to all team members, boards, and business partners, committing to ethical conduct without bribes or corruption and global compliance with anti-bribery laws.
5
The company provides training on anti-corruption laws and how to identify bribery to our team members.
6
This Code of Business Conduct and Ethics is posted on our website, which is located at www.carnivalcorp.com and www.carnivalplc.com.
7
A Speak-up Policy with a 24/7 anonymous hotline encourages reporting concerns without fear of retaliation, and mandatory ethics training is provided.
8
The Global Ethics and Compliance department, overseen by Board Compliance Committees, monitors ethics and compliance, but the program's effectiveness is not publicly measured.
9

Kind to Animals

0

Carnival Corporation has engaged in public policy and advocacy related to animal welfare. The company joined over 50 other travel leaders in a pledge to not offer exploitative elephant encounters.

1
Additionally, Carnival Corporation partnered with the U.S. Wildlife Trafficking Alliance, committing to educate employees and guests about illegal wildlife products and to work with vendors and suppliers to prevent their sale.
2

No War, No Weapons

-10

Carnival Corporation operates exclusively in the leisure travel sector, with no engagement in arms manufacturing or military contracts.

1
The company operates no business directly linked to military or weapons production, meaning it has no defense or arms-related activities in its core business, no defense business to oversee, no exports requiring end-user certificates, no weapons red lines needed, and no exposure to any weapons.
2
Consequently, it has no defense assets to divest. However, Carnival does not actively advocate for or invest in peace initiatives, nor does it have significant association with peacebuilding or conflict resolution initiatives.
3

Planet-Friendly Business

-60

Carnival Corporation faced a $20 million criminal penalty for environmental violations, including dumping plastic and food waste, falsifying training records, and attempting to redefine compliance standards.

1
These violations involved 6 probation violations and 7 felony charges, with specific incidents dating back to 2005.
2
The company has a net-zero emissions target by 2050, but no Science Based Targets Initiative (SBTi) validation is explicitly mentioned.
3
Its waste diversion rate was 29.7% in 2024.
4
For climate-related financial disclosures, the company's 2022 disclosures were consistent with 10 of 11 Task Force on Climate-Related Financial Disclosures (TCFD) recommendations, although Scope 3 emissions disclosure was not consistent.
5
It performs qualitative and quantitative climate scenario analysis, considering temperature increase pathways of 1.5°C, 2.8°C, and 4°C above pre-industrial levels by 2100.
6

Respect for Cultures & Communities

50

Carnival Corporation has 11 formal partnerships with local community groups and cultural organizations.

1
These include UNICEF, United Way of Miami-Dade, United Way of Puerto Rico, K1 Britannia Foundation, St. Maarten Sailing School, Kidz at Sea, International Boatbuilding Training College, Community Foundation of the Virgin Islands, Ministry of Education in the U.S. Virgin Islands, Te Kura Waka for Māori celestial navigation, and a partnership with St. Kitts for cultural engagement.
2
,
3
Additionally, approximately 90% of employees at the company's ports and exclusive destinations in Alaska are recruited from local communities.
4

Safe & Smart Tech

-30

Carnival Corporation faced significant cybersecurity challenges, resulting in a $5 million fine from the New York State Department of Financial Services

1
and a $1.25 million settlement with 45 states and Washington D.C. in June 2022.
2
These penalties were due to violations including failure to implement multi-factor authentication, inadequate employee cybersecurity training, delayed breach notifications, and improper cybersecurity compliance certifications filed from 2018-2020.
3
Multiple cybersecurity incidents occurred between 2019 and 2021
4
, with one breach affecting approximately 180,000 individuals
5
and another involving 124 employee email accounts.
6
One incident had a 10-month reporting delay
7
, and another was not reported.
8
Users are provided with control over their personal data, including access, update, modification of profile information, data sharing preferences, location tracking, device content access, and data deletion capabilities.
9
The company conducts regular risk assessments, including vulnerability assessments and penetration testing.
10
In July 2023, Carnival partnered with Splunk for enhanced digital resilience
11
and adopted the NIST Cybersecurity Framework and ISO/IEC 27001 standards in May 2023.
12
A Third Party Security Risk Management program was implemented in March 2023.
13

Zero Waste & Sustainable Products

-40

Carnival Corporation has a history of illegal disposal of hazardous waste, including dumping contaminated waste and oil, and pleaded guilty to six probation violations related to environmental compliance, including dumping plastic mixed with food waste, resulting in a $20 million criminal penalty.

1
The company's waste diversion rate was 27.6% in 2019, and 44% of its packaging was sustainable in 2022.
2
Carnival achieved a 50% reduction in single-use plastics by 2021, eliminating over 500 million items fleetwide.
3
The company has implemented numerous waste reduction initiatives, including installing over 630 food waste biodigesters and over 90 dehydrators, upcycling food scraps into products like vegan soap and biofuel, and recycling carpeting.
4
Carnival has set ambitious waste reduction targets, achieving a 44% reduction in unit food waste by 2024 against a 2019 baseline, surpassing its 2025 target of 40%, and aims for a 50% reduction by 2030.
5

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AI-generated analysis based on publicly available data. Not financial advice. Ratings are expressions of opinion derived from automated models and may contain inaccuracies. See our Risk Disclosure for full details.