Philip Morris International Accelerates Path to Carbon Neutrality - Seite 2

“Strong action must be taken to reduce the risks of climate change and stop the destruction of nature. We believe that PMI must play its part in protecting vulnerable ecosystems and communities around the world by reducing our environmental impact across our value chain, and by defining and executing strategies and initiatives to achieve our long-term targets,” said Massimo Andolina, SVP, Operations. “Our business and sustainability strategies are advancing hand-in-hand with increasing momentum, and we are investing in innovative programs and taking a multidisciplinary approach to reducing the environmental impact of our products, operations, and value chain.”

Investing in nature-based solutions: Portfolio of Climate Investments

Recognizing that with today’s technologies, some emissions are unavoidable, PMI’s approach to carbon pricing announced last year includes the introduction of two complementary internal carbon prices: a shadow price of USD 65 per ton of CO₂e and a carbon levy of USD 8 per ton of CO₂e. The shadow price helps in the prioritization of business cases for investment in activities aimed at structurally reducing carbon emissions, while the carbon levy helps size the investments required today to decrease GHG emissions through offsetting and insetting initiatives.

Guiding these initiatives, PMI has created its Portfolio of Climate Investments (PCI), which will provide transparency in the activities necessary to further the company’s decarbonization efforts. The PCI’s advisory committee is responsible for managing and allocating the budget for climate-investment solutions along three main lines of intervention: purchases of high-quality carbon credits to support short-term neutrality targets, investments in insetting projects within PMI’s value chain to support long-term net-zero ambitions, and investments in innovative technologies that can help permanently remove carbon from the atmosphere.

Social and Environmental Connectivity

Climate change impacts not only the environment but also people’s livelihoods. PMI’s efforts to combat climate change are not limited to working towards carbon neutrality in its operations and across its entire value chain. The company is also working to adapt to the impact of climate change and increase the resilience of its business and the communities where it operates. Recognizing that sustainability challenges do not exist in a vacuum but are often linked to one another and must be considered to craft appropriate solutions, PMI commissioned Article One to prepare a briefing paper, entitled: “Climate Justice in Global Supply Chains: A Perspective for the Private Sector.” The paper will discuss the connectivity between environmental and social issues, drawn from the impacts of climate change, as well as the ability to shape solutions that are mutually reinforcing.