The company’s ISS ESG corporate rating was also
upgraded to ‘prime’ status
Philip Morris International Inc. (PMI) (NYSE: PM) has been
included in the Dow Jones Sustainability™ World Index for the first
time, and for the fourth consecutive year in the Dow Jones
Sustainability™ North America Composite Index.1 The Dow Jones
Sustainability™ World Index is one of the most reputable benchmarks
for measuring the sustainability performance of companies
worldwide, as identified by S&P Global through the annual
Corporate Sustainability Assessment (CSA). The World Index includes
the top 10% of the largest 2,500 companies in the S&P Global
Broad Market Index based on long-term economic, environmental, and
social criteria.
“Investors and other financial stakeholders place increasing
value on reliable, robust, and timely measures of sustainability
performance,” said Emmanuel Babeau, chief financial officer, PMI.
“ESG ratings are one part of the input dataset for many
institutional investors. Through our annual integrated report, and
the ever-strengthening processes and initiatives that underpin it,
we aim to provide a holistic and extensive view of our performance
across the most material sustainability issues for our
business.”
PMI scored 85 out of 100 in the 2023 S&P Global CSA2
reflecting a significant increase of 21 points since it first began
engaging with the ranking in 2018. This is the first year PMI has
recorded the highest CSA score out of 13 companies assessed in the
tobacco industry by S&P.3
The recognition of PMI’s best-in-class sustainability
performance has not only been recognized by S&P—earlier this
month, ISS ESG Corporate Rating qualified PMI as “Prime” status
according to their rating methodology.4 Prime status is awarded to
companies with an ESG performance above a sector-specific
threshold, which means that they fulfill ambitious absolute
performance requirements. According to ISS, the Prime rating
classification qualifies companies for responsible investment. To
date, PMI is the only company in the tobacco industry to ever
receive Prime status qualification.
“A reflection of hard work, perseverance, deep commitment to
sustainability, impactful performance, and best-in-class reporting
allows PMI to be recognized externally for its leadership in
sustainability performance and transparency. We are the only
company in our sector included in the Dow Jones Sustainability™
World Index, leading the tobacco industry in this rating for the
first time,” said Jennifer Motles, chief sustainability officer,
PMI. “Our north star is to create a net positive impact that
benefits our company, shareholders, consumers, and society. This
recognition signals we are on the right track. Our approach to
sustainability is deeply embedded in our corporate strategy and is
a true opportunity for innovation, growth, and purpose-led,
impact-driven, long-term value creation. I look forward to the
journey ahead as we remain committed to transform for good.”
Further to the recognition by S&P and ISS ESG, PMI’s
performance in various sustainability ratings to date demonstrate
the company’s leadership on sustainability performance and
transparency. Some of these include PMI’s Triple A score on CDP for
the third consecutive year,5 PMI’s inclusion in the Bloomberg
Gender Equality Index for the second consecutive year, and
recognition as a top performer by WBCSD Reporting Matters for its
transparent and robust reporting practices for the third
consecutive year.6
Learn more about PMI’s sustainability performance by downloading
its Integrated Report 2022, or visiting pmi.com/sustainability.
S&P Dow Jones Indices
S&P Dow Jones Indices is the largest global resource for
essential index-based concepts, data and research, and home to
iconic financial market indicators, such as the S&P 500® and
the Dow Jones Industrial Average®. More assets are invested in
products based on our indices than products based on indices from
any other provider in the world. Since Charles Dow invented the
first index in 1884, S&P DJI has been innovating and developing
indices across the spectrum of asset classes helping to define the
way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE:
SPGI), which provides essential intelligence for individuals,
companies, and governments to make decisions with confidence. For
more information, visit: www.spglobal.com/spdji
ISS ESG Corporate Rating
ISS ESG solutions enable investors to develop and integrate
sustainable investing policies and practices, engage on responsible
investment issues, and monitor portfolio company practices through
screening solutions. ISS ESG also provides climate data, analytics,
and advisory services to help financial market participants
understand, measure, and act on climate-related risks across all
asset classes. In addition, ESG solutions cover corporate and
country ESG research and ratings enabling its clients to identify
material social and environmental risks and opportunities. For more
information, please visit: www.iss-esg.com
Philip Morris International: Delivering a Smoke-Free Future
Philip 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’s 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 – a leader in oral nicotine
delivery – creating a global smoke-free champion led by the
companies’ IQOS and ZYN brands. The U.S. Food and Drug
Administration has authorized versions of PMI’s IQOS Platform 1
devices and consumables and Swedish Match’s General snus as
Modified Risk Tobacco Products. As of September 30, 2023, PMI's
smoke-free products were available for sale in 82 markets, and PMI
estimates that approximately 19.7 million adults around the world
had already switched to IQOS and stopped smoking. Smoke-free
products accounted for approximately 36.2% of PMI’s total
third-quarter 2023 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 and www.pmiscience.com.
1 Index inclusion announced on Dec. 8, 2023, effective as of
Dec. 18, 2023
2 CSA Score as of Nov. 24, 2023
3 Sector ranking based on CSA Score as of Nov. 24, 2023
4 ISS ESG Rating as of Nov. 21, 2023
5 Based CDP Climate, Forest, and Water Security 2022
6 Reporting matters 2023 (wbcsd.org)
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version on businesswire.com: https://www.businesswire.com/news/home/20231212131072/en/
Philip Morris International David Fraser Philip Morris
International T. +41 (0)58 242 4500 E. david.fraser@pmi.com
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