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December 7, 2021
Philip Morris International Receives Second Consecutive “Triple A” Rating from CDP
Acknowledged by CDP as a Global Environmental Leader for Demonstrable Progress on Climate, Forests, and Water in 2021
PMI has been honored by the CDP’s “Triple A” score, recognizing the company’s best-in-class environmental performance and leadership in tackling climate change, as well as protecting forests and water security. The ranking places PMI among the select few to achieve the prestigious Triple A score and among the world's most pioneering companies leading on environmental transparency and performance.
“External validation from organizations like CDP encourages us to continue on our journey to create a net-positive impact on society. We are humbled PMI has received CDP’s ‘Triple A’ distinction for a second time,” said Jennifer Motles, Chief Sustainability Officer. “As we continue to transform our business, clear and transparent disclosure of our progress remains paramount. This helps us get ahead of regulatory and policy changes, identify and tackle growing risks, and find new opportunities for action that our investors, consumers and other key stakeholders worldwide are demanding.”
PMI is proud to be a full supporter of the
Earlier this year PMI published its Low-Carbon Transition Plan (LCTP) to provide a transparent and detailed view on how the company aims to achieve its climate ambitions, measure success, and report on progress. The LCTP fully aligns with TCFD requirements, including the need to disclose actual and potential impacts of climate-related risks and opportunities on our organization's strategy and related governance around climate-related risks and opportunities.
“As a company with a multinational environmental footprint, we have a role to play in protecting our planet and are determined to remain at the forefront of the climate-neutral agenda,” said
PMI’s best-in-class performance on environmental issues is part of its broader sustainability strategy that centers on addressing the impact of its products and successfully phasing out cigarettes to accelerate the end of smoking. This strategy is shaped by the company’s formal sustainability materiality assessment, which PMI uses to reassess which sustainability topics should be prioritized, help meet stakeholders’ expectations, and focus efforts in areas where it can create value and have the greatest impact.
Additional highlights around PMI’s efforts to reduce its environmental footprint include:
- Five PMI factories have received carbon neutrality certification, with the aim of having all factories certified by 2025
Eleven factories have been certified by the
Alliance for Water Stewardshipstandard, with the aim of having all factories certified by 2025
- PMI has developed a Zero Deforestation Manifesto to combat deforestation and protect biodiversity, with the aim of having a net positive impact on forests associated with its tobacco supply chain by 2025
The biggest positive impact PMI can have on society is to transform its business, and thus the company places this atop its sustainability priorities. As PMI progresses toward achieving its vision of a smoke-free future, it continues to enhance its sustainability efforts and embed sustainability into every aspect of its business. As reaffirmed by its Statement of Purpose, PMI continues to focus its resources on developing, scientifically substantiating, and responsibly commercializing smoke-free products that are less harmful than smoking, with the aim of completely replacing cigarettes as soon as possible.
The full list of companies on this year’s CDP A List, along with other publicly available company scores, is available here: www.cdp.net/en/companies/companies-scores.
Additional information on PMI’s sustainability activities is available at PMI.com/Sustainability.
Forward-Looking and Cautionary Statements
This press release contains projections of future results and other forward-looking statements. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. In the event that risks or uncertainties materialize, or underlying assumptions prove inaccurate, actual results could vary materially from those contained in such forward-looking statements. Pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, PMI is identifying important factors that, individually or in the aggregate, could cause actual results and outcomes to differ materially from those contained in any forward-looking statements made by PMI.
PMI's business risks include: excise tax increases and discriminatory tax structures; increasing marketing and regulatory restrictions that could reduce our competitiveness, eliminate our ability to communicate with adult consumers, or ban certain of our products in certain markets or countries; health concerns relating to the use of tobacco and other nicotine-containing products and exposure to environmental tobacco smoke; litigation related to tobacco use and intellectual property; intense competition; the effects of global and individual country economic, regulatory and political developments, natural disasters and conflicts; changes in adult smoker behavior; lost revenues as a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations, and limitations on the ability to repatriate funds; adverse changes in applicable corporate tax laws; adverse changes in the cost, availability, and quality of tobacco and other agricultural products and raw materials, as well as components and materials for our electronic devices; and the integrity of its information systems and effectiveness of its data privacy policies. PMI's future profitability may also be adversely affected should it be unsuccessful in its attempts to produce and commercialize reduced-risk products or if regulation or taxation do not differentiate between such products and cigarettes; if it is unable to successfully introduce new products, promote brand equity, enter new markets or improve its margins through increased prices and productivity gains; if it is unable to expand its brand portfolio internally or through acquisitions and the development of strategic business relationships; or if it is unable to attract and retain the best global talent. Future results are also subject to the lower predictability of our reduced-risk product category's performance.
PMI is further subject to other risks detailed from time to time in its publicly filed documents, including the Form 10-Q for the quarter ended
CDP (formerly known as the
The full methodology and criteria for the A List is available on CDP’s website at: https://www.cdp.net/en/companies/companies-scores.
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