CARNIVAL PLC
CUK
Consumer Discretionary
2
exclusion reasons
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Carnival PLC, operating through its cruise line subsidiaries, has established a documented pattern of regulatory violations across environmental, cybersecurity, and labor compliance domains. In 2019, its subsidiary Princess Cruise Lines and the parent company pleaded guilty to six environmental probation violations, including dumping plastic waste mixed with food in Bahamian waters, resulting in a $20 million criminal penalty. This followed a previous environmental conviction. Separately, in 2022, the New York State Department of Financial Services fined Carnival $5 million for cybersecurity failures, finding the company filed improper compliance certifications from 2018 to 2020, failed to implement multifactor authentication, and delayed reporting data incidents by 10 months. ViolationTracker data further documents a $6.25 million settlement in 2006 for federal wage and hour violations. This multi-year, multi-jurisdictional record of serious infractions indicates systemic compliance failures.
Carnival Corporation & plc operates a global cruise business that externalizes costs onto customers, destinations, and the environment while employing pricing and marketing strategies that obscure the full risks of the cruise experience.
In 2019, Carnival's Princess Cruise Lines pleaded guilty to environmental probation violations, including discharging plastic waste into Bahamian waters and falsifying records, resulting in a $20 million criminal penalty. Litigation in J.F. v. Carnival Corporation (11th Cir. 2025) alleges the company failed to protect a minor from a foreseeable sexual assault by fellow passengers onboard.
Post-pandemic recovery has not included demonstrable reform of these practices, leaving customers exposed to significant and often hidden risks.
Research Sources
16 organizations
Related Exclusions
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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