Philip Morris International Sustainability Report Outlines Fundamental Transformation to Shift Its Bus. to Smoke-Free Products
September 12 2017 - 4:18AM
Business Wire
Publishes Second UNGC Communication on
Progress
Philip Morris International Inc. (“PMI”) (NYSE / Euronext Paris:
PM) today published its sustainability report, outlining the
fundamental transformation of the company to shift its business to
smoke-free products. PMI’s efforts are squarely focused on
replacing cigarettes with smoke-free products, offering the
millions of men and women who continue to smoke a better
alternative. This second United Nations Global Compact
Communication on Progress includes expectations for investment,
resource allocation and progress towards a smoke-free future.
- Since 2008, PMI has invested more than
USD 3 billion in fundamental research, product and commercial
development, production capacity, scientific substantiation and
studies on adult smoker understanding of smoke free products.
- In 2017, PMI expects over 70% of its
global R&D expenditure and over 30% of its global commercial
expenditure to be allocated to smoke-free products.
- PMI has announced planned investments
of more than USD 1.7 billion to build or convert its factories for
the production of smoke-free products.
- More than 3 million adult smokers have
already switched to IQOS, the first of PMI’s smoke-free products.
By 2025, the company expects that at least 40 million consumers who
would have otherwise continued smoking, will have switched to its
smoke-free alternatives.
- The company indicates, as an
aspirational goal, that by 2025 at least 30% of its volume will
come from smoke-free products, assuming constant PMI market
share.
The report also provides a comprehensive overview of PMI’s
sustainability fundamentals, including:
- Its Agricultural Labor Practices
program, which continues to raise the bar on improving labor
conditions in agriculture, within and beyond tobacco;
- The adoption of science-based targets
for greenhouse gas emissions, achieving a 23% reduction in 2016
compared to 2010, and targeting a 40% reduction by 2030 across the
company’s entire value chain. For a third year in a row, PMI
received recognition on CDP’s Climate A-List;
- Its external engagement principles, as
well as marketing principles for combustible products and Good
Conversion Practices for smoke-free products;
- Programs to fight illicit tobacco
trade, including PMI IMPACT, a global funding initiative to support
organizations in developing and implementing projects dedicated to
fighting illegal trade and related crimes. PMI recently announced
32 projects selected for funding with approximately USD 28 million
in the initiative’s first round; and
- PMI’s status as a Top Employer,
including equal-salary certification, women in management, and
health and well-being programs.
The full Communication on Progress is available at
www.pmi.com/UNGCprogressreport2016 on the PMI website.
Philip Morris International Inc. Philip Morris
International Inc. (PMI) is a leading international tobacco
company, with six of the world's top 15 international brands and
products sold in more than 180 markets. In addition to the
manufacture and sale of cigarettes, including Marlboro, the number
one global cigarette brand, and other tobacco products, PMI is
engaged in the development and commercialization of reduced-risk
products (RRPs). RRPs is the term PMI uses to refer to products
that present, are likely to present, or have the potential to
present less risk of harm to smokers who switch to these products
versus continued smoking. Through multidisciplinary capabilities in
product development, state-of-the-art facilities, and
industry-leading scientific substantiation, PMI aims to provide an
RRP portfolio that meets a broad spectrum of adult smoker
preferences and rigorous regulatory requirements. For more
information, see www.pmi.com and www.pmiscience.com.
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Philip Morris InternationalMedia OfficeT: +41 (0)58 242
4500E: media@pmi.com
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