May 24, 2019
Philip Morris International Sustainability Report Outlines Fundamental Transformation to Shift Its Business to Smoke-Free Products
Publishes Second UNGC Communication on
Since 2008, PMI has invested more than
USD 3 billionin 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 billionto 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
USD 28 millionin 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170912005782/en/
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