PMI Releases Integrated Report

Philip Morris International released its fourth annual Integrated Report. Informed by a formal sustainability materiality assessment, the report aims to provide an objective description of the company’s business model, governance and management, strategy and performance.

“Despite its many tests, 2022 was a remarkable year that brought our employees closer and saw us make measurable strides toward achieving our purpose,” said Jacek Olczak, CEO of PMI. “We are progressing toward our 2025 aspiration of becoming a majority smoke-free company and ultimately phase out cigarettes. While a transformation of this magnitude and complexity cannot be achieved overnight, we are committed to making it happen as fast as possible. It is through constructive engagement that we will accelerate the pace of meaningful and impactful change and complete our transformation for good.”

Building on its ESG framework, PMI developed eight strategies targeting the company’s most pressing areas of impact. To accompany these eight strategies, PMI established 11 goals, which form the basis of its 2025 Roadmap, and 19 key performance indicators (KPIs) to measure progress via its Sustainability Index. Each KPI is also aligned with one of two drivers: product sustainability (11 KPIs) or operational sustainability (8 KPIs).

“Nonfinancial information is increasingly being used by external stakeholders to assess and compare a company’s performance to others, including the financial community in their analyses and investment decisions. It is key to the integrity of PMI’s reporting that the information and data that we publicly disclose accurately reflect our company’s progress, following clear calculation methods,” explained Emmanuel Babeau, chief financial officer of PMI.