Philip Morris International (PMI) is committed to becoming a global environmental leader, having been awarded a "AAA" rating for its performance and leadership in addressing climate change and protecting forests and water safety.
This is the second year that the international nonprofit charity CDP has recognized PMI's efforts in disclosing its environmental impact, aiding the company in its transparency efforts.
Jennifer Motles, Chief Sustainability Officer of PMI, stated, "We are humbled to have received the 'Triple-A' recognition from CDP for the second time. External validation from organizations like CDP encourages us to continue our journey towards creating a net positive impact on society.
PMI is one of only 14 companies in the world to receive an esteemed A rating in all three categories, making it one of the most innovative companies globally in terms of environmental transparency and performance.
Massimo Andolina, Senior Vice President of Operations at PMI, stated: "As a company with a multinational footprint, we have a role to play in protecting the planet and remain committed to being at the forefront of climate neutrality.
By acknowledging that PMI is a leader in climate action, CDP encourages us to continue our efforts. We have defined and implemented strategies and measures to reduce our environmental impact across the entire value chain. We believe that it is essential to collaborate with tobacco growers, suppliers, retailers, non-governmental organizations, and governments to implement adaptation and mitigation measures throughout the value chain in order to enhance our resilience to climate risks.
In November, PMI released its Low Carbon Transition Plan (LCTP) to help address the climate crisis. The plan provides transparent and detailed information about how the company intends to achieve its climate ambitions, measure success, and report progress.
This strategy was shaped by the company's sustainability importance assessment, which PMI used to reevaluate which sustainability topics should be prioritized in order to help meet stakeholder expectations and focus on areas where it can create value and have the greatest impact.
Motles added: "As we continue to transform our business, it remains crucial to clearly and transparently disclose our progress.
This will help us make better preparations and adaptability, identify and respond to the growing risks, and find new opportunities for action that global investors, consumers, and other key stakeholders demand. However, if we are to play a role in addressing the climate crisis, this is also the right thing to do.
LCTP is part of the company's broader sustainability strategy, which is focused on addressing the impact of its products and successfully phasing out cigarettes to achieve a smoke-free future as quickly as possible.
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PMI (Philip Morris International) has achieved a triple A rating for the second consecutive year from CDP (Carbon Disclosure Project).
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