Philip Morris Scores an A for Climate Change | Fin24
 
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Philip Morris Scores an A for Climate Change

Apr 01 2019 16:37
Thought Leadership by Philip Morris
Philip Morris International

PMI was recognised for their positive efforts to combat climate change.

Philip Morris International has been highlighted as a global leader on corporate climate action by environmental impact nonprofit CDP, achieving a place on the CDP Climate Change A List for the fifth consecutive year. As the only tobacco company to have scored an A, PMI has been recognized for cutting emissions, mitigating climate risks and developing the low-carbon economy, based on its 2018 disclosure to CDP.

“Climate change is one of the major concerns for humanity, and companies can make a difference. Just like we are leading our industry’s transformation toward a smoke-free future, we are focused on bettering every part of our business and supply chain to become a leader in sustainable business practices,” said André Calantzopoulos, Chief Executive Officer, PMI.

The company’s efforts to reduce the environmental footprint of its operations focus on sustainable design in new facilities, energy efficiency in manufacturing processes, greener purchasing of electricity and fuels as well as greening of our fleet. 

Additionally, the environmental efforts go beyond the factory gates: Most GHG emissions related to the tobacco supply chain come from the curing process for Virginia flue-cured tobacco, one of the main tobacco types the company purchases. PMI aims to lower GHG emissions in the curing process by 70 percent by 2020 (vs. 2010). To achieve this, PMI works with contracted farmers and leaf tobacco suppliers to improve curing-barn efficiency (combustion efficiency, ventilation and controls), as well as eliminate the use of coal and non-sustainable wood. The CDP A-list recognition underscores that the company is on track to achieve its target.

Paul Simpson, CEO of CDP, said: “Congratulations to all companies that made it onto CDP’s A List this year. As the severity of environmental risks to business becomes ever more apparent, these are the companies that are positioning themselves to provide solutions, seize new market opportunities and thrive in the transition to a sustainable economy. We need to urgently scale up environmental action at all levels in order to meet the goals of the Paris Agreement and the Sustainable Development Goals. It’s clear that the business world is an essential player in this transition, and the A List companies are set to make a substantial contribution to those goals.”

CDP, formerly Carbon Disclosure Project, is an international nonprofit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted the No. 1 climate research provider by investors, CDP works with institutional investors with assets of US$87 trillion, leveraging investor and buyer power to motivate companies to disclose and manage their environmental impacts.

Every year, thousands of companies disclose data about their environmental impacts, risks and opportunities to CDP for independent assessment against its scoring methodology. In 2018, 7,000 companies with over 50 percent of global market capitalization disclosed environmental data through CDP.For more information about PMI’s sustainable practices or to review the company’s latest Sustainability Report, visit www.PMI.com/sustainability

This post and content is sponsored, written and provided by Philip Morris International.

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