Philip Morris International Publishes First Human Rights Report

Human Rights Report reinforces the company’s commitment to the UN Guiding Principles on Business & Human Rights

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Philip Morris International Inc. NYSE PM
Jun. 21, 2023 09:00
LAUSANNE, SWITZERLAND--(Business Wire / Korea Newswire)--Philip Morris International Inc. (PMI) (NYSE: PM) today released its first Human Rights Report, detailing the company’s strategy to promote, respect, and protect human rights, and its progress to date in implementing its Human Rights Commitment.

PMI’s Human Rights Commitment is the cornerstone of its human rights strategy. It outlines the foundational principles that need to be respected throughout the operations and value chain, by both PMI and its business partners. In 2022, PMI updated its Commitment with the company’s latest saliency mapping, sustainability materiality assessment, ongoing due diligence activities, and the evolution of the company’s sustainability strategy.

“Establishing a strong foundation and integrating mechanisms into our organization that promote, respect, and protect human rights are an essential part of our approach to business,” said Jacek Olczak, Chief Executive Officer. “While this can be challenging given the breadth of our operations and the scope and complexity of the issues involved, we believe human rights are an absolute and universal requirement that we are committed to upholding.”

In its Human Rights Report, PMI shares its best practices, lessons learned, main challenges, and future actions. It also features country-based case studies and external recognition—such as the inclusion of PMI’s Agricultural Labor Practices in the World Business Council for Sustainable Development’s (WBCSD) latest Human Rights Progress Report. PMI actively participates in the Business Commission to Tackle Inequality’s (BCTI) efforts and contributed to the latest report on Tackling Inequality: An agenda for business action.

In addition, PMI’s Human Rights Report includes progress toward achieving its 2025 goal to conduct 10 human rights impact assessments (HRIAs) in the highest risk countries. To date—PMI has completed seven HRIAs, including two in 2022 in Brazil and Malaysia. Read more about PMI’s HRIAs here.

PMI’s approach to human rights is grounded in the United Nations Guiding Principles on Business & Human Rights (UNGPs), and the strategy is centered on four pillars:

1. A sound framework: PMI’s human rights work is governed by PMI’s Human Rights Commitment, which is implemented by other PMI policy instruments such as the company’s Code of Conduct. Raising awareness on those instruments helps PMI embed an ethos of respect for human rights within its corporate culture.
2. Rigorous due diligence: PMI has robust programs and processes in place to identify adverse impacts across its value chain.
3. Remediation: If adverse impacts do occur, PMI strives to ensure access to grievance mechanisms.
4. Transparency: Reporting transparently on PMI’s progress and challenges through its annual reporting and targeted communications is a vital component of its approach.

“Human rights are inherent to the dignity of human life and a prerequisite for society to prosper,” said Jennifer Motles, Chief Sustainability Officer. “As a global company, we work to uphold human rights both within our organization and across our value chain. We will continue to work with different parts of society in a multi-stakeholder approach to achieve sustainable solutions that comprehensively address systemic human rights issues”.

To read PMI’s Human Rights Report visit www.pmi.com/human-rights-report. To learn more about PMI’s sustainability journey, please visit www.pmi.com/sustainability. Or you can access the company’s additional sustainability resources: PMI’s Integrated Report 2022, Agricultural Labor Practices Program, and PMI’s Sustainability Index and ESG KPI Protocol.

In this release and in related communications, the term “materiality”, “material”, and similar terms, when used in the context of economic, environmental, and social topics, are defined in the referenced sustainability standards, and are not meant to correspond to the concept of materiality under the U.S. securities laws and/or disclosures required by the U.S. Securities and Exchange Commission. The aspirational targets and goals in this release do not constitute financial projections.

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 (FDA) has authorized versions of PMI’s IQOS Platform 1 devices and consumables and Swedish Match’s General snus as Modified Risk Tobacco Products (MRTPs). As of March 31, 2023, PMI's smoke-free products were available for sale in 78 markets, and PMI estimates that approximately 18.5 million adults around the world had already switched to IQOS and stopped smoking. Smoke-free products accounted for approximately 35% of PMI’s total 2023 first-quarter 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.

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Website: http://www.pmi.com

Contact

Philip Morris International
David Fraser
+41 (0)58 242 4500
david.fraser@pmi.com

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