PMI Sets Carbon Neutrality Target for All of Its Factories By 2030

Philip Morris International Inc. (PMI) (NYSE: PM) today announced its aim that all its factories become carbon neutral by 2030. The announcement comes as PMI celebrates its factory in Klaipeda, Lithuania, as its first carbon neutral manufacturing facility.

“A clear message emerged from last month’s Climate Week NYC, run in coordination with the UN General Assembly: Now is the time to act against climate change,” said Huub Savelkouls, PMI’s Chief Sustainability Officer. “We share the ambition of limiting global temperature rise to 1.5 degrees Celsius. This requires setting challenging targets, taking action to achieve them and transparently reporting on progress and gaps. This is what our employees, our consumers and our shareholders expect from us. Today is important for PMI, as we celebrate our first step toward carbon neutrality in all our factories by 2030.”

At its factory in Klaipeda, Lithuania, PMI has implemented multiple projects over the past 10 years to optimize its energy usage and reduce carbon emissions. This has included upgrading utilities equipment, such as chillers and compressors, and facilitating heat recovery to optimize fuel use for heating purposes; installing a biomass boiler; procuring certified renewable electricity and offsetting natural gas carbon emissions with biogas certificates. To offset the remaining carbon emissions, PMI invested in Gold Standard certificates from climate protection initiatives. These initiatives support more than 9,000 families in India by promoting domestic biogas production to replace kerosene and firewood as cooking fuels, contributing to a reduction in greenhouse gas emissions and deforestation.

“Reducing the environmental footprint of our operations is a priority for PMI,” said Massimo Andolina, PMI’s Senior Vice President Operations. “I am extremely proud of our first important milestone in Klaipeda, testament to our commitment to make all PMI manufacturing operations carbon neutral by 2030. We are focused on, committed to and motivated by this objective, and we will achieve it thanks to the passion of all our people, to the ongoing efforts to reduce our energy needs and conserve energy inside our factories, and also thanks to a number of focused investments aimed at making all our operations environmentally sound and sustainable for the future.”