CDP awards Philip Morris International its second consecutive "Triple A" rating
Philip Morris International Inc. announced today that it has been named a global environmental leader for the second year in a row by CDP, a not-for-profit charity that operates a global disclosure system to help investors, companies, cities, and regions manage their environmental impacts.
The CDP's "Triple A" score recognized PMI's best-in-class environmental performance and leadership in combating climate change, as well as protecting forests and water security. The ranking places PMI among the select few to receive the prestigious Triple A score, as well as among the world's most forward-thinking businesses in terms of environmental transparency and performance.
"External validation from organizations such as CDP encourages us to continue on our path to have a net-positive impact on society. We are honored that PMI has been awarded CDP's 'Triple A' status for the second time,"
said Jennifer Motles, Chief Sustainability Officer.
"As we continue to transform our business, we believe that clear and transparent disclosure of our progress is critical." This enables us to stay ahead of regulatory and policy changes, identify and address emerging risks, and identify new opportunities for action that our investors, consumers, and other key stakeholders around the world require."
PMI is proud to be an outspoken supporter of the Task Force on Climate-related Financial Disclosures (TCFD), with which the company has been fully aligned through its Integrated Report and CDP submissions. Furthermore, PMI has been working on the parallel Task Force on Nature-related Financial Disclosures (TNFD), recognizing the importance of protecting ecosystems and promoting biodiversity conservation in order to combat climate change.
PMI published its Low-Carbon Transition Plan (LCTP) earlier this year to provide a transparent and detailed view of how the company intends to achieve its climate ambitions, measure success, and report on progress. The LCTP fully complies with TCFD requirements, including the requirement to disclose actual and potential impacts of climate-related risks and opportunities on our organization's strategy and related governance.
"As a multinational corporation with a global environmental footprint, we have a responsibility to protect our planet and are determined to stay at the forefront of the climate-neutral agenda,"
said Massimo Andolina, SVP, Operations.
"By naming PMI a climate leader, CDP encourages us to continue our efforts. We define and implement strategies and initiatives that help us reduce the environmental impact across our value chain, and we believe that working collaboratively with tobacco growers, suppliers, retailers, non-governmental organizations (NGOs), and governments is critical in implementing adaptation and mitigation measures across our value chain to strengthen its resilience to climate risks."
PMI's best-in-class environmental performance is part of a larger sustainability strategy that focuses on addressing the impact of its products and successfully phasing out cigarettes to hasten 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, meet stakeholders' expectations, and focus efforts in areas where it can create the most value and have the most impact.
Among the other highlights of PMI's efforts to reduce its environmental footprint are:
Five PMI factories have been certified as carbon neutral, with the goal of having all factories certified by 2025.
The Alliance for Water Stewardship standard has been applied to eleven factories, with the goal of having all factories certified by 2025.
To combat deforestation and protect biodiversity, PMI has created a Zero Deforestation Manifesto, with the goal of having a net positive impact on forests associated with its tobacco supply chain by 2025.
The most positive impact PMI can have on society is to transform its business, so this is at the top of the company's sustainability priorities. As PMI works toward its vision of a smoke-free future, it continues to improve its sustainability efforts and integrate sustainability into all aspects of its operations. As stated in its Statement of Purpose, PMI will continue to devote its resources to developing, scientifically validating, and responsibly commercializing smoke-free products that are less harmful than smoking, with the goal of completely replacing cigarettes as soon as possible.
Source: PMI news
