Royal Caribbean Group - 1792 Exchange

Rating Overview

Royal Caribbean Group is Medium Risk.

Royal Caribbean Group often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. Royal Caribbean Group occasionally embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues at times. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Medium Risk
Discriminatory Philanthropy	High Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	High Risk
Political Actions	Lower Risk

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

Medium

Rationale:

RCG received a score of 70 on the 2025 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (1)(2). RCG integrates ESG into its business practices. From its 2022 ESG Report: “Grounded in our values, our ESG framework is embedded in our culture and extends across every part of our operations” (3). However, RCG has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (4).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

High

Rationale:

RCG’s HRC 2025 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2). RCG does not appear to discriminate against religious organizations based on views or beliefs. The company’s charitable giving focus areas are “sustain the planet, energize communities, and accelerate innovation” (3).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

RCG implemented unconscious bias training for its employees in 2022 and prioritizes diversity in its supply chain (1). RCG does not provide viewpoint protection for its employees (2).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Royal Caribbean International, a subsidiary of RCG, was recognized as “Gay Travel Approved” and Royal Caribbean Cruises promotes that it hosts LGBT weddings, vow renewals, and ceremonies (1). The company opened the first net zero cruise terminal in Galveston and committed to achieving net zero emissions by 2050 (2). RCG formed an Executive Diversity Council and its CEO is a signatory to the CEO’s for Gun Safety (3)(4). The company’s former CEO, Richard D. Fain, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace (5)(6).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

RCG’s HRC 2025 CEI rating indicates the company covers transgender related costs for its employees and their children, including paid short-term leave, puberty blockers, cross-sex hormones, chest surgeries, genital surgeries, medical visits and lab monitoring, travel and lodging. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (1)(2). RCG is a corporate partner of the National LGBT Chamber of Commerce (3). Otherwise, there are no publicly known cases of RCG using corporate funds to advance ideological causes, organizations, or policies (4).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

Lower

Rationale:

RCG has not used its PAC donations or lobbying for ideological purposes (1)(2)(3).