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News breaking: 2017-09-12

September 12, 2017

Philip Morris International Sustainability Report Outlines Fundamental Transformation to Shift Its Business to Smoke-Free Products

September 12, 2017

Philip Morris International Sustainability Report Outlines Fundamental Transformation to Shift Its Business to Smoke-Free Products
Publishes Second UNGC Communication on Progress

LAUSANNE, September--(BUSINESS WIRE)--Sep. 12, 2017--
Philip Morris International Inc. (“PMI”) (NYSE / Euronext Paris: PM)
today published its sustainability report, outlining the fundamental
transformation of the company to shift its business to smoke-free
products. PMI’s efforts are squarely focused on replacing cigarettes
with smoke-free products, offering the millions of men and women who
continue to smoke a better alternative. This second United Nations
Global Compact Communication on Progress includes expectations for
investment, resource allocation and progress towards a smoke-free future.
Since 2008, PMI has invested more than USD 3 billion in fundamental
research, product and commercial development, production capacity,
scientific substantiation and studies on adult smoker understanding of
smoke free products.
In 2017, PMI expects over 70% of its global R&D expenditure and over
30% of its global commercial expenditure to be allocated to smoke-free
products.
PMI has announced planned investments of more than USD 1.7 billion to
build or convert its factories for the production of smoke-free
products.
More than 3 million adult smokers have already switched to IQOS,
the first of PMI’s smoke-free products. By 2025, the company expects
that at least 40 million consumers who would have otherwise continued
smoking, will have switched to its smoke-free alternatives.
The company indicates, as an aspirational goal, that by 2025 at least
30% of its volume will come from smoke-free products, assuming
constant PMI market share.
The report also provides a comprehensive overview of PMI’s
sustainability fundamentals, including:
Its Agricultural Labor Practices program, which continues to raise the
bar on improving labor conditions in agriculture, within and beyond
tobacco;
The adoption of science-based targets for greenhouse gas emissions,
achieving a 23% reduction in 2016 compared to 2010, and targeting a
40% reduction by 2030 across the company’s entire value chain. For a
third year in a row, PMI received recognition on CDP’s Climate A-List;
Its external engagement principles, as well as marketing principles
for combustible products and Good Conversion Practices for smoke-free
products;
Programs to fight illicit tobacco trade, including PMI IMPACT, a
global funding initiative to support organizations in developing and
implementing projects dedicated to fighting illegal trade and related
crimes. PMI recently announced 32 projects selected for funding with
approximately USD 28 million in the initiative’s first round; and
PMI’s status as a Top Employer, including equal-salary certification,
women in management, and health and well-being programs.
The full Communication on Progress is available at www.pmi.com/UNGCprogressreport2016
on the PMI
website.
Philip Morris International Inc. Philip Morris
International Inc. (PMI) is a leading international tobacco company,
with six of the world's top 15 international brands and products sold in
more than 180 markets. In addition to the manufacture and sale of
cigarettes, including Marlboro, the number one global cigarette brand,
and other tobacco products, PMI is engaged in the development and
commercialization of reduced-risk products (RRPs). RRPs is the term PMI
uses to refer to products that present, are likely to present, or have
the potential to present less risk of harm to smokers who switch to
these products versus continued smoking. Through multidisciplinary
capabilities in product development, state-of-the-art facilities, and
industry-leading scientific substantiation, PMI aims to provide an RRP
portfolio that meets a broad spectrum of adult smoker preferences and
rigorous regulatory requirements. For more information, see www.pmi.com
and www.pmiscience.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170912005782/en/
Source: Philip Morris International

Philip Morris InternationalMedia OfficeT: +41 (0)58
242 4500E: media@pmi.com