LAUSANNE, SWITZERLAND-- December 08, 2021 -- Philip Morris International Inc. (PMI) (NYSE: PM) today, for the second year in a row, announced it has been recognized as a global environmental leader by CDP, a not-for-profit charity that runs a global disclosure system for investors, companies, cities, and regions to manage their environmental impacts.

PMI has been honored by the CDP’s “Triple A” score, recognizing the company’s best-in-class environmental performance and leadership in tackling climate change, as well as protecting forests and water security. The ranking places PMI among the select few to achieve the prestigious Triple A score and among the world's most pioneering companies leading on environmental transparency and performance.

“External validation from organizations like CDP encourages us to continue on our journey to create a net-positive impact on society. We are humbled PMI has received CDP’s ‘Triple A’ distinction for a second time,” said Jennifer Motles, Chief Sustainability Officer. “As we continue to transform our business, clear and transparent disclosure of our progress remains paramount. This helps us get ahead of regulatory and policy changes, identify and tackle growing risks, and find new opportunities for action that our investors, consumers and other key stakeholders worldwide are demanding.”

PMI is proud to be a full supporter of the Task Force on Climate-related Financial Disclosures (TCFD), which the company has been fully aligning with via its Integrated Report and CDP submissions. Further, PMI has engaged on the development of the parallel Task Force on Nature-related Financial Disclosures (TNFD), recognizing the importance of protecting ecosystems and promoting biodiversity conservation to tackle climate change.

Earlier this year PMI published its Low-Carbon Transition Plan (LCTP) to provide a transparent and detailed view on how the company aims to achieve its climate ambitions, measure success, and report on progress. The LCTP fully aligns with TCFD requirements, including the need to disclose actual and potential impacts of climate-related risks and opportunities on our organization's strategy and related governance around climate-related risks and opportunities.

“As a company with a multinational environmental footprint, we have a role to play in protecting our planet and are determined to remain at the forefront of the climate-neutral agenda,” said Massimo Andolina, SVP, Operations. “By recognizing PMI as a climate leader, CDP encourages us to persist on our endeavors. We define and execute strategies and initiatives that help us to reduce the environmental impact across our value chain and we believe that working collectively with tobacco growers, suppliers, retailers, NGOs, and governments is crucial, implementing adaptation and mitigation measures across our value chain to strengthen its resilience to climate risks.”

PMI’s best-in-class performance on environmental issues is part of its broader sustainability strategy that centers on addressing the impact of its products and successfully phasing out cigarettes to accelerate the end of smoking. This strategy is shaped by the company’s formal sustainability materiality assessment, which PMI uses to reassess which sustainability topics should be prioritized, help meet stakeholders’ expectations, and focus efforts in areas where it can create value and have the greatest impact.

Additional highlights around PMI’s efforts to reduce its environmental footprint include:

· Five PMI factories have received carbon neutrality certification, with the aim of having all factories certified by 2025
· Eleven factories have been certified by the Alliance for Water Stewardship standard, with the aim of having all factories certified by 2025
· PMI has developed a Zero Deforestation Manifesto to combat deforestation and protect biodiversity, with the aim of having a net positive impact on forests associated with its tobacco supply chain by 2025

The biggest positive impact PMI can have on society is to transform its business, and thus the company places this atop its sustainability priorities. As PMI progresses toward achieving its vision of a smoke-free future, it continues to enhance its sustainability efforts and embed sustainability into every aspect of its business. As reaffirmed by its Statement of Purpose, PMI continues to focus its resources on developing, scientifically substantiating, and responsibly commercializing smoke-free products that are less harmful than smoking, with the aim of completely replacing cigarettes as soon as possible.