PMI’s ESG Performance Recognized by the S&P Dow Jones Indices
November 19 2020 - 4:27AM
Business Wire
PMI Named in Dow Jones Sustainability North
American Index; the Company Continues to Demonstrate Progress
Toward Delivering a Smoke-Free World
Philip Morris International Inc. (PMI) (NYSE: PM) has been
included for the first time in the Dow Jones Sustainability Index
(DJSI) North America, recognizing its exemplary sustainability
performance. Moreover, for the third year in a row, PMI leads the
industry in DJSI’s innovation management category, which assesses
companies’ research and development spending, product innovations,
and portfolio of tobacco alternatives and reduced-risk products.
The DJSI North America Index includes the Dow Jones Indices’ top 20
percent of ESG performers across 61 industries—those that exhibit
best-in-class performance against DJSI’s environmental, social, and
governance (ESG) metrics.
“Integrating ESG into our business is at the core of our
smoke-free strategy,” said PMI Chief Sustainability Officer
Jennifer Motles. “Indeed, for us to be a truly sustainable company
we must continue to relentlessly address the health impacts of our
products by focusing our efforts and resources on phasing out
cigarettes as quickly as possible. As the only cigarette
manufacturer committed to removing cigarettes from our business, we
are proud to be part of the Dow Jones Sustainability North America
Index, confirming the significant progress we’re making to
transform our business.”
To make its transformation measurable and transparent, PMI
reports regularly on its progress toward achieving its
purpose—first announced in 2016—to deliver a smoke-free future by
focusing resources on developing, scientifically substantiating,
and responsibly commercializing smoke-free products that are less
harmful than smoking, with the aim of completely replacing
cigarettes with smoke-free alternatives for those adults who would
otherwise continue to smoke as soon as possible. In 2016 PMI
introduced a set of bespoke key performance indicators (KPIs),
Business Transformation Metrics, to clearly showcase the pace and
scale of the company’s transformation. These allow stakeholders to
assess the actions, resource allocation, and outcomes achieved in
PMI’s rapid advancement toward a smoke-free future. In 2019, the
company continued to expand these metrics, to 25 indicators, such
as the availability of PMI’s smoke-free products worldwide,
including in non-OECD countries.
To further demonstrate PMI’s clarity of purpose, in March 2020
the company’s Board of Directors issued its Statement of Purpose,
published in PMI’s Proxy Statement, reaffirming its commitment to
delivering a smoke-free future. In June 2020 PMI released its first
Integrated Report, helping stakeholders and investors make the
connection between product-focused sustainability initiatives,
which form the core of PMI’s ESG strategy, and financial
performance over time. Informed by PMI’s sustainability materiality
assessment, the report describes the company’s performance in
addressing its most pressing ESG issues and enables company
stakeholders to better evaluate PMI’s progress in achieving its
purpose of delivering a smoke-free future. In October, PMI
reinforced its commitment to addressing ESG issues by integrating
the Sustainability team within the company’s Finance
organization.
“We congratulate Philip Morris International for being included
in the DJSI North America Index,” said Manjit Jus, global head of
ESG Research and Data, S&P Global. “A DJSI distinction is a
reflection of being a sustainability leader in your industry. With
a record number of companies participating in the 2020 Corporate
Sustainability Assessment and more stringent rules for inclusion
this year, this sets your company apart and rewards your continued
commitment to people and planet.”
Additional information on the company’s sustainability efforts
and ESG performance are available at PMI.com/Sustainability.
Notes: The term “materiality,” “material,” and similar
terms, when used in the context of economic, environmental, and
social topics, are defined in the referenced sustainability
standards, and are not meant to correspond to the concept of
materiality under the U.S. securities laws and/or disclosures
required by the U.S. Securities and Exchange Commission.
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 U.S. In addition, PMI ships a version of its IQOS
Platform 1 device and its consumables to Altria Group, Inc. for
sale under license in the U.S., where the U.S. Food and Drug
Administration (FDA) has authorized their marketing as a modified
risk tobacco product (MRTP), finding that an exposure modification
order for these products is appropriate to promote the public
health. 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 product portfolio includes
heat-not-burn and nicotine-containing vapor products. As of
September 30, 2020, PMI estimates that approximately 11.7 million
adult smokers around the world have already stopped smoking and
switched to PMI’s heat-not-burn product, available for sale in 61
markets in key cities or nationwide under the IQOS brand. For more
information, please visit www.pmi.com and www.pmiscience.com.
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Philip Morris International Daniella Weinberg T. +1 484 433 0447
E. daniella.weinberg@pmi.com
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