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Linked to the new PMI Sustainability Index, the new ESG KPI Protocol and ESG Highlights provide data-driven insight into PMI’s ESG performance
LAUSANNE, Switzerland–(BUSINESS WIRE)–Following the introduction of the PMI Sustainability Index, Philip Morris International Inc. (PMI) (NYSE: PM) made its ESG KPI protocol Publicly available. This document outlines how the Sustainability Index will measure PMI’s progress towards achieving the goals set out in its 2025 roadmap and provides details on the 19 metrics that make up the PMI Sustainability Index. This announcement follows the release of 2021 PMI Integrated Reportwhich includes details on the company’s sustainability index and the 2022 proxy statement, which provides details on how long-term executive compensation is linked to the company’s 2025 roadmap through the sustainability index.
The ESG KPI Protocol is a separate and dedicated explanation of the mechanics of the Sustainability Index. It includes the definition, methodology and scope of each of the Sustainability Index KPIs to provide measurable, verifiable, consistent and accurate reporting of progress.
Through the publication of its ESG KPI protocol, PMI aims to provide greater transparency on the key indicators used to measure the company’s progress towards achieving its objective and creating value for shareholders and other stakeholders. . In addition, the ESG KPI protocol establishes a company-specific framework and clearly defines KPIs that can provide the organization with a method for linking the business objective, strategic direction, financial performance and environmental and social considerations.
“As sustainability matures and gains prominence inside and outside our business, the question of how to measure ESG performance is one that many continue to wrestle with. As a result, we have developed a clear process for establishing concrete definitions, documentation and controls for sustainability with the aim of standardizing how we measure ESG performance,” said Jennifer Motles, Chief Sustainability Officer. “We have long expressed support for a greater rigor in sustainability reporting, not just for companies, but also for ESG ratings and related products, greater transparency, more robust methodologies, and greater clarity of definitions and assumptions are needed. We certainly welcome recent developments leading to greater consistency of standards within governance frameworks. solid vernance. »
Additionally, PMI released its 2021 ESG Highlights—a data-driven document based on the company’s 2021 Integrated Report and designed to complement investor relations materials. It aims to further strengthen investor engagement and understanding of the relevance and robustness of PMI’s sustainability strategy and transformation.
Philip Morris International: Delivering a smoke-free future
Philip Morris International (PMI) is a leading international tobacco company striving to deliver a smoke-free future and evolving its long-term portfolio to include products outside of the tobacco and nicotine industry. The Company’s current product portfolio consists primarily of cigarettes and smokeless products, including non-combustion heat, vapor and oral nicotine products, which are sold in markets outside of the United States. Since 2008, PMI has invested more than $9 billion to develop, scientifically substantiate, and market innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of ending the sale of cigarettes altogether. This includes developing world-class scientific evaluation capabilities, including in the areas of preclinical systems toxicology, clinical and behavioral research, and post-marketing studies. The United States Food and Drug Administration (FDA) has cleared versions of PMI for sale IQOS Platform 1 devices and consumables as modified risk tobacco products (MRTPs), concluding that exposure modification orders for these products are appropriate to promote public health. As of March 31, 2022, PMI’s smoke-free products were available for sale in 71 markets, and PMI estimates that approximately 12.7 million adults worldwide, excluding Russia and Ukraine, had already gone to IQOS and quit smoking. With a solid foundation and significant expertise in the life sciences, in February 2021, PMI announced its ambition to expand into the fields of well-being and health and to offer innovative products and solutions that aim to meet the unmet needs of consumers and patients. For more information, please visit www.pmi.com and www.pmiscience.com.
Forward-Looking Statements and Cautions
This press release contains statements relating to future plans and circumstances, including statements regarding our planned strategies, programs, operations and objectives that are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can usually, but not always, be identified by the use of words such as “plans”, “intends”, “expects”, “believes” or similar expressions. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by such forward-looking statements due to numerous factors, many of which are beyond PMI’s control. These forward-looking statements speak only as of the date they are made, and PMI has no obligation (and assumes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise, except in accordance with applicable laws and regulations.
PMI’s business risks include: excise duty increases and discriminatory tax structures; increased marketing and regulatory restrictions that could reduce our competitiveness, eliminate our ability to communicate with adult consumers or prohibit certain of our products in certain markets or countries; health problems related to the use of tobacco and other nicotine-containing products and exposure to environmental tobacco smoke; tobacco use and intellectual property litigation; intense competition; the effects of global and national economic, regulatory and political developments, natural disasters and conflicts; the impact and consequences of the Russian invasion of Ukraine; changes in adult smoking behavior; revenue losses due to counterfeiting, smuggling and cross-border shopping; government investigations; unfavorable exchange rates and currency devaluations, and limitations on the ability to repatriate funds; adverse changes in applicable corporate income 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 the effectiveness of its data privacy policies. PMI’s future profitability could also be adversely affected if it fails to produce and market reduced-risk products or if regulations or taxation do not distinguish 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 top global talent, including women or diverse candidates. Future results are also subject to the lower performance predictability of our reduced risk product category. PMI is further subject to other risks detailed from time to time in its publicly filed documents, including PMI’s Annual Report on Form 10-K for the fourth quarter and fiscal year ended December 31, 2021, and Form 10-Q for the quarter ended March 31, 2022. PMI cautions that the foregoing list of important factors does not constitute a complete analysis of all potential risks and uncertainties. PMI does not undertake to update any forward-looking statements it may make from time to time, except in the normal course of its public disclosure obligation.
Philip Morris International
Phone +41 (0)58 242 4500
E. [email protected]
Source: Philip Morris International