Philip Morris International Welcomes Broad Interest for PMI IMPACT; New Global Initiative to Fight Smuggling and Related Crimes Receives over 200 Project Proposals in First Funding Round
LAUSANNE, Switzerland--(BUSINESS WIRE)--Sep. 15, 2016--
Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM)
announced today that the response to PMI IMPACT, its new global funding
initiative for third party projects dedicated to fighting smuggling and
related crimes, has exceeded expectations with more than 200 expressions
of interest submitted in the first funding round. PMI has pledged USD
100 million for three funding rounds.
“We are delighted to see that PMI IMPACT has been well-received and
that a broad range of organizations recognized the need to join forces
to eliminate illegal trade in its many forms. With the leadership of the
Expert Council, PMI IMPACT will provide resources for the best proposals
to bring innovative and lasting solutions,” stated Alvise
Giustiniani, Vice President Illicit Trade Strategies & Prevention, of PMI.
The Expert Council comprises external independent experts with
impeccable credentials in the fields of law, anti-corruption and law
enforcement. The experts will evaluate the project proposals that are
suitable for funding.
In total, 170 organizations including government agencies, universities
and research institutes, NGOs, and private entities have proposed more
than 200 projects under three focus areas: research, education and
awareness, and action. Submissions come from 42 countries, primarily in
Europe and North America.
For its first funding round, PMI IMPACT called for projects that could
have an impact on illegal trade and related crimes in the European
Union. Organizations based anywhere in the world were invited to apply,
as long as they could demonstrate an impact within the EU, including an
impact on the illegal tobacco trade.
Expressions of interest will now go through due diligence checks and
quality assessment by the Expert Council. Applicants that pass this
stage will be invited to submit their full proposals. The selection
process will be completed by Q2 2017.
PMI is the world’s 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 with the potential to reduce individual
risk and population harm in comparison to smoking cigarettes. 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,
Media enquiries Philip Morris International media office T:
+41 (0)58 242 4500 E :firstname.lastname@example.org
RECEIVE EMAIL ALERTS
ABOUT OUR MOBILE APP
Our Investor Relations mobile application provides simple, comprehensive and up-to-date access to PMI’s disclosed investor relations materials as well as to live and archived audio webcast playback of earnings calls and investor presentations.