PMI Recognized for Its Clim
LAUSANNE, Switzerland -- (BUSINESS WIRE) --
Philip Morris International Inc. (PMI) (NYSE: PM) was recognized today among the top global companies leading on climate action. Environmental nonprofit CDP, formerly Carbon Disclosure Project, has placed PMI on its ‘A List’ for climate change for the sixth year in a row, recognizing the company’s work to reduce its energy use and carbon emissions and to follow a transparent disclosure process. At the end of 2019, PMI was also recognized for its leadership role in addressing the climate crisis by the “50 Sustainability and Climate Leaders” initiative.
“We are proud to be once again on CDP’s prestigious A List,” said PMI Chief Executive Officer André Calantzopoulos. “We are not just transforming our products to deliver better alternatives to millions of adult smokers across the world, we also are making sustainability an integral part of our business strategy, including our focus on reducing greenhouse gas emissions.”
PMI has committed to making its manufacturing climate neutral by 2030. As an important first milestone on this journey, PMI announced in October that its Lithuanian operation was certified carbon neutral after 10 years of work to optimize the factory’s energy usage, including switching to renewable energies. PMI’s wider commitment to reduce its carbon footprint is aligned with the objective to limit global warming to under 1.5°C, with carbon neutrality targeted by 2050.
“For many years, PMI has been taking actions to reduce greenhouse gas emissions in our operations and across our value chain, where 85 percent of the emissions occur. Being placed on CDP’s A List for climate change validates the progress we are making in our commitment to sustainability and environmental transparency,” said Huub Savelkouls, PMI’s Chief Sustainability Officer. “The private sector has a pivotal role to play, but to prevent a climate crisis all companies must act. We are ready to share our expertise and work together to maximize our collective impact.”
Paul Simpson, CEO of CDP, said: “Congratulations to the companies that achieved a position on CDP’s A List this year, for leading in environmental performance and transparency. The scale of the business risks from the climate emergency, deforestation and water insecurity are vast—as are the opportunities from addressing them—and it’s clear the private sector has a vital role to play at this critical time. The A List companies are leading the market in corporate sustainability, tackling environmental risks and setting themselves up to thrive in tomorrow’s economy.”
About Sustainability at PMI
For Philip Morris International (PMI), sustainability is an integral part of the company’s business strategy. It is about replacing cigarettes with better alternatives, addressing sustainability challenges across its value chain and seizing opportunities to add value to society. Last year, to share our experience with other companies, PMI led a Sustainable Brands webinar together with CDP and PwC on how the company is reducing its carbon footprint, including its intention to achieve both carbon neutrality for all of its factories by 2030 and zero net deforestation in its supply chain. For further details, visit https://sustainablebrands.com/events/view/responding-to-climate-crisis-how-pmi-is-reducing-its-carbon-footprint.
To learn more about PMI’s leadership in combating climate change, visit 50climateleaders.com. The 50 Sustainability Climate Leaders project is a response from the international business community that demonstrates the desire, leadership and will to take effective action in the fight against the climate crisis. To learn more about sustainability at PMI, visit www.pmi.com/sustainability.
Philip Morris International: Delivering 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 with smoke-free products 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, as well as smoke-free products and associated electronic devices and accessories, and other nicotine-containing products in markets outside the United States. In addition, PMI ships a version of its IQOS Platform 1 device and its consumables authorized by the U.S. Food and Drug Administration to Altria Group, Inc. for sale in the United States under license. 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 heat-not-burn and nicotine-containing vapor products. As of September 30, 2019, PMI estimates that approximately 8.8 million adult smokers around the world have already stopped smoking and switched to PMI's heat-not-burn product, available for sale in 51 markets in key cities or nationwide under the IQOS brand. For more information, please visit www.pmi.com and www.pmiscience.com.
CDP is a global nonprofit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted the number one climate research provider by investors and working with institutional investors with assets of US$96 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. More than 8,400 companies with over 50 percent of global market capitalization disclosed environmental data through CDP in 2019. This is in addition to the over 920 cities, states and regions that disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit https://cdp.net/en or follow @CDP to find out more.
The full methodology and criteria for the Climate Change A List are available on CDP’s website at https://www.cdp.net/en/guidance/guidance-for-companies under “CDP scoring methodologies 2019.”