PMI Among Elite Group of Companies to Score A for Climate Change
Philip Morris International Inc. (PMI) (NYSE: PM) has been highlighted as a global leader on corporate climate action by environmental impact nonprofit CDP, achieving a place on the CDP Climate Change A List for the fifth consecutive year. As the only tobacco company to have scored an A, PMI has been recognized for cutting emissions, mitigating climate risks and developing the low-carbon economy, based on its 2018 disclosure to CDP.
“Climate change is one of major concerns for humanity, and companies can make a difference. Just like we are leading our industry’s transformation toward a smoke-free future, we are focused on bettering every part of our business and supply chain to become a leader in sustainable business practices,” said André Calantzopoulos, Chief Executive Officer, PMI.
The company’s efforts to reduce the environmental footprint of its operations focus on sustainable design in new facilities, energy efficiency in manufacturing processes, greener purchasing of electricity and fuels as well as greening of our fleet. Additionally, the environmental efforts go beyond the factory gates: Most GHG emissions related to the tobacco supply chain come from the curing process for Virginia flue-cured tobacco, one of the main tobacco types the company purchases. PMI aims to lower GHG emissions in the curing process by 70 percent by 2020 (vs. 2010). To achieve this, PMI works with contracted farmers and leaf tobacco suppliers to improve curing-barn efficiency (combustion efficiency, ventilation and controls), as well as eliminate the use of coal and non-sustainable wood. The CDP A-list recognition underscores that the company is on track to achieve its target.
Paul Simpson, CEO of CDP, said: “Congratulations to all companies that made it onto CDP’s A List this year. As the severity of environmental risks to business becomes ever more apparent, these are the companies that are positioning themselves to provide solutions, seize new market opportunities and thrive in the transition to a sustainable economy. We need to urgently scale up environmental action at all levels in order to meet the goals of the Paris Agreement and the Sustainable Development Goals. It’s clear that the business world is an essential player in this transition, and the A List companies are set to make a substantial contribution to those goals.”
CDP, formerly Carbon Disclosure Project, is an international nonprofit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted the No. 1 climate research provider by investors, CDP works with institutional investors with assets of US$87 trillion, leveraging investor and buyer power to motivate companies to disclose and manage their environmental impacts.
Every year, thousands of companies disclose data about their environmental impacts, risks and opportunities to CDP for independent assessment against its scoring methodology. In 2018, 7,000 companies with over 50 percent of global market capitalization disclosed environmental data through CDP.
For more information about PMI’s sustainable practices or to review the company’s latest Sustainability Report, visit www.PMI.com/sustainability
Philip Morris International: Building a Smoke-Free Future
Philip Morris International (PMI) is leading a transformation in the tobacco industry to create a smoke-free future and ultimately replace cigarettes to the benefit of adults who would otherwise continue to smoke, society, the company and its shareholders. PMI is a leading international tobacco company engaged in the manufacture and sale of cigarettes, smoke-free products and associated electronic devices and accessories, and other nicotine containing products in markets outside the U.S. PMI is building a future on a new category of smoke-free products that, while not risk-free, are a much better choice than continuing to smoke. Through multidisciplinary capabilities in product development, state-of-the-art facilities and scientific substantiation, PMI aims to ensure that its smoke-free products meet adult consumer preferences and rigorous regulatory requirements. PMI's smoke-free IQOS product portfolio includes heated tobacco and nicotine-containing vapor products. As of September 30, 2018, PMI estimates that approximately 5.9 million adult smokers around the world have already stopped smoking and switched to PMI’s heated tobacco product, which is currently available for sale in 43 markets in key cities or nationwide under the IQOS brand. For more information, see our PMI and PMIScience websites.
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