Philip Morris International (PMI) has published its first Taskforce on Nature-related Financial Disclosures (TNFD) Report. The report will provide shareholders and stakeholders with the most comprehensive assessment to date of nature-related dependencies, impacts, risks, and opportunities (DIROs) across our global value chain.
PMI was an early adopter of the TNFD recommendations, and the release of the TNFD Report further supports our efforts to sharpen our understanding of how natural capital considerations can influence both business resilience and decision-making.
“Today we're publishing PMI’s inaugural TNFD Report. Addressing nature risks and opportunities supports agricultural productivity, manufacturing operations resilience, and access to a stable supply of key raw materials across our value chain,” said Scott Coutts, Global Chief Operations Officer, PMI.
“The insights generated with our TNFD report help us better understand nature-related dependencies and strengthen long-term business resilience.”
Nature: central to business resilience
Nature is one of the six strategic priorities—alongside Consumers, Circularity, Climate, Our Workforce, and Workers in Our Value Chain—that define PMI’s Value Plan 2030+, the company’s framework for long-term sustainable value creation. The plan identifies where our actions intersect most significantly with business imperatives, ensuring that initiatives drive tangible outcomes across various forms of capital.
“This report reflects a deliberate choice: to treat our relationship with nature as a strategic enabler of long-term value creation rather than as a compliance exercise,” said Jennifer Motles, Chief Sustainability Officer, PMI.
“By making nature visible in how we set targets, allocate resources, and shape our strategy, we are building an understanding that will only grow in importance as the reporting landscape matures—and we are proud to help shape that path for others navigating it alongside us.”
Publication of the TNFD Report follows the release of PMI’s 2025 Climate Transition Plan, prepared in line with the TCFD framework. This represents a natural next step in broadening the company’s environmental assessment and disclosure. PMI’s environmental stewardship has been recognized over the years, and the company was recently included in Forbes’ 2026 Net Zero Leaders list for the fourth consecutive year.
From disclosure to practical examples
Also included in the report are “Stories of Impact,” a series of articles which bring PMI’s sustainability strategy to life through examples of local initiatives and projects around the world, including work on water stewardship, biodiversity, soil restoration, and product circularity.
PMI’s TNFD Report should be read alongside our annual Value Report, where performance and updates on progress are disclosed. Together, these non-financial disclosures are intended to give stakeholders greater transparency on the sustainability topics most relevant to PMI’s long-term business success.