\u201cWe renew and continue our effort to direct our activities toward decarbonizing our value chain and are committed to aligning our work with relevant updates on international methodologies, such as the Science Based Targets for Nature (SBTN) and guidance from the SBTi on forest, land, and agriculture (FLAG) science-based targets,\u201d said Scott Coutts, Senior Vice President of Operations at PMI.<\/p>\n
\u201cThe SBTi\u2019s science-based targets on forestry, land use, and agriculture will become the gold standard for companies within the agricultural sector to accelerate emissions reductions, and we are pleased to be early adopters,\u201d said Jennifer Motles, Chief Sustainability Officer at PMI. \u201cThe SBTi\u2019s validation demonstrates that our targets are rooted in science and aligned with the Paris Climate Agreement\u2019s goal to keep global warming to the 1.5\u00b0C threshold that is considered the limit beyond which climate-related impacts will be catastrophic.\u201d<\/p>\n
Ahead of the validation, PMI was included in Forbes<\/i>\u2019 first-ever Net Zero Leaders<\/a> ranking,1<\/sup> which highlights the 100 U.S. public companies that are best positioning themselves to reduce their greenhouse-gas emissions and ultimately offset them by 2050. On the inaugural ranking, which considered initiatives to reduce carbon emissions from the company\u2019s own operations and that of its suppliers, vendors, and customers, PMI ranked seventh overall, and first within its peer group. The ranking also considered the company\u2019s management structure around risk assessment, governance, strategy, and metrics for achieving its decarbonization goals and its financial strength to withstand industry competition and economic turmoil.<\/p>\n Read PMI\u2019s Low-Carbon Transition Plan<\/a>, PMI\u2019s Integrated Report 2022<\/a>, or visit pmi.com\/sustainability<\/a> to learn more. Additional information about the SBTi and PMI\u2019s approved targets are available at https:\/\/sciencebasedtargets.org<\/a>.<\/p>\n Science Based Targets initiative <\/b> Philip Morris International: Delivering a Smoke-Free Future <\/strong> Philip Morris International: SBTi Near- and Long-Term Targets<\/b><\/p>\n Overall Net-Zero Target:<\/b> Philip Morris International commits to reach net-zero GHG emissions across the value chain by 2040. # # #<\/p>\n 1<\/sup> \u00a92023 Forbes Media LLC. used with permission.<\/p>\n View source version on businesswire.com: https:\/\/www.businesswire.com\/news\/home\/20230921892822\/en\/<\/a><\/p>\n
\nThe Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) and is one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies\u2019 targets. www.sciencebasedtargets.org<\/a> @sciencetargets.<\/p>\n
\nPhilip Morris International (PMI) is a leading international tobacco company working to deliver a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company\u2019s current product portfolio primarily consists of cigarettes and smoke-free products. Since 2008, PMI has invested more than USD 10.5 billion to develop, scientifically substantiate, and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. In November 2022, PMI acquired Swedish Match\u2014a leader in oral nicotine delivery\u2014creating a global smoke-free champion led by the companies\u2019 IQOS<\/i> and ZYN<\/i> brands. The U.S. Food and Drug Administration (FDA) has authorized versions of PMI\u2019s IQOS<\/i> Platform 1 devices and consumables and Swedish Match\u2019s General<\/i> snus as modified risk tobacco products (MRTPs). As of June 30, 2023, PMI’s smoke-free products were available for sale in 78 markets, and PMI estimates that approximately 19.4 million adults around the world had already switched to IQOS<\/i> and stopped smoking. Smoke-free products accounted for approximately 35.4% of PMI\u2019s total 2023 second-quarter net revenues. With a strong foundation and significant expertise in life sciences, PMI announced in February 2021 its ambition to expand into wellness and healthcare areas and, through its Vectura Fertin Pharma business, aims to enhance life through the delivery of seamless health experiences. For more information, please visit www.pmi.com<\/a> and www.pmiscience.com<\/a>.<\/p>\n
\nNear-Term Targets Energy\/industrial:<\/b> Philip Morris International commits to reduce absolute scopes 1 and 2 GHG emissions 50% by 2030 from a 2019 base year.
\nPhilip Morris International also commits to reduce absolute scope 3 GHG emissions 27.5% within the same timeframe.*
\n*The target boundary includes land-related emissions and removals from bioenergy feedstocks. FLAG: <\/b>Philip Morris International commits to reduce absolute scope 3 FLAG GHG emissions 33.3% by 2030 from a 2019 base year.* Philip Morris International also commits to no deforestation across its primary deforestation-linked commodities with a target date of FY2025. *The target includes FLAG emissions and removals.
\nLong-Term Targets Energy\/industrial:<\/b> Philip Morris International commits to reduce absolute scopes 1, 2, and 3 GHG emissions 90% by 2040 from a 2019 base year.*
\n*The target boundary includes land-related emissions and removals from bioenergy feedstocks. FLAG: <\/b>Philip Morris International commits to reduce absolute scope 3 FLAG GHG emissions 72% by 2040 from a 2019 base year.*
\n*The target includes FLAG emissions and removals.<\/p>\n<\/p>\n
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