How APTIM Advanced the Resilience Strategy of a Global Cruise Line

Advancing Climate Resilience in Global Cruise Operations

Norwegian Cruise Line Holdings (NCLH) is a leading global cruise company operating the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. Together, these brands offer itineraries to approximately 700 destinations worldwide, with a variety of amenities and experiences on board and at ports of call. The company also maintains long-term lease agreements with two private island destinations.

NCLH is committed to driving a positive impact on society and the environment, recognizing that its operations are deeply connected to the preservation of marine ecosystems and shared global resources. As part of its sustainability goals, NCLH has pledged to achieve net zero greenhouse gas emissions by 2050 across its operations and value chain. This ambitious goal is supported through continuous efforts to improve operational efficiency, foster innovation, and collaborate with partners to reduce climate impacts.

Navigating Climate Disclosure & Reporting Requirements

Global sustainability disclosure frameworks are rapidly evolving, creating new complexities for organizations that report on climate risk and sustainability performance. For several years, NCLH utilized the Task Force for Climate-Related Financial Disclosures (TCFD) framework to disclose climate-related risks and opportunities. However, this framework was recently superseded by the International Financial Reporting Standard (IFRS) Foundation’s International Sustainability Standards Board (ISSB), which introduced enhanced transparency and material climate disclosure and reporting standards regarding climate-related financial impacts. ​

To align with the latest climate disclosure standards and strengthen their enterprise climate risk management strategy, NCLH invested in a comprehensive update to their climate-related risk and opportunity assessments, climate scenario analysis, and associated disclosures. Additionally, the company sought to assess key assets’ risk management and resilience vis-à-vis physical climate risks. These updated assessments serve to support reporting transition, better inform long-term planning, proactively address climate risks, and enhance decarbonization and climate resilience across their global operations.

Partnering with APTIM to Advance Climate Risk Assessments & Resilience Strategy

As a trusted advisor in sustainability, climate resilience, and environmental compliance, APTIM supported NCLH in its goal of understanding and mitigating climate-related business impacts while improving transparency in climate-related risk disclosure and sustainability reporting.

Stage 1: Climate-Related Risk & Opportunity Assessment & Scenario Analysis

APTIM began by conducting a comprehensive benchmarking and assessment of NCLH’s physical and transitional climate-related risks and opportunities. The client’s prior scenario analysis (completed in 2021) was referenced alongside peer disclosures and other internal assessments (e.g., a double materiality assessment). APTIM’s Sustainability Solutions team led transitional scenario analysis, evaluating business impacts under various carbon pricing and emissions trajectories, utilizing projections from the Network for Greening the Financial System.

Simultaneously, APTIM’s Resilient Solutions team conducted physical scenario modeling to analyze potential impacts to assets and infrastructure under different sea-level rise and storm surge conditions, utilizing projections from the National Oceanic and Atmospheric Administration.

Stage 2: Climate-Related Financial Disclosure Alignment

By integrating findings from APTIM’s risk assessment and scenario analysis, the team developed an IFRS-aligned sustainability report designed to inform future climate-related financial disclosures as jurisdictions worldwide adopt ISSB standards. Key insights were incorporated into the company’s annual sustainability and ESG reporting, contributing to the robust sustainability disclosure for the relevant reporting year.

Stage 3: Climate Communications & Stakeholder Engagement

To enhance organization-wide climate literacy and engagement, APTIM developed an internal communications campaign tailored for both technical staff and general employees. The campaign included presentations, talking points, and one-page summaries to foster conversations about climate strategy, decarbonization, and resilience planning considering the shifting regulatory landscape.

Strengthening Climate Resilience Through Strategy & Collaboration

Through this collaboration, APTIM helped NCLH strengthen its climate disclosure practices, advance its climate adaptation plan, and build business resilience to climate change while progressing toward its decarbonization goals. Deliverables and outcomes included:

“APTIM was an incredible partner, consistently demonstrating exceptional attention to detail, going the extra mile, and having routine meetings while helping us truly get to the root of every challenge. Their thoughtful feedback, valuable resources, and collaborative spirit made them a joy to work with.”

– Heike Naigur, Sr. Director Sustainability, Norwegian Cruise Line Holdings Ltd.

Advancing Sustainability Reporting & Climate Disclosure Compliance with APTIM

By partnering with APTIM, NCLH advanced its climate risk assessment, sustainability reporting, and overall climate resilience strategy. This project demonstrates how data-driven insights, transparent climate disclosures, and proactive planning enable organizations to meet evolving regulatory requirements and protect long-term business performance.

Whether your organization’s goal is to strengthen climate risk management, enhance sustainability reporting, or achieve climate disclosure compliance, APTIM’s sustainability experts can guide you through every step.

To learn more, contact Sustainability@APTIM.com or Alex Miller-Brown at Alex.Miller-Brown@APTIM.com for personalized support.

Published November 2025