Philip Morris Plans To Achieve Carbon Neutrality In Direct Operations By Five Years To 2025

(RTTNews) - Philip Morris International Inc. (PM), on Wednesday, released its Low Carbon Transition Plan or LCTP, on how the company has planned to achieve its climate ambitions, measure success, and report on progress.

The company said it has planned to achieve carbon neutrality in its direct operations (scopes 1+2) by five years, to 2025, and to achieve carbon neutrality across its entire value chain (scopes 1+2+3) by 10 years, to 2040.

In addition, the company has introduced a new goal for its critical suppliers to adopt science-based targets or SBTs in line with the SBTs that PMI has already committed to, aligned with the 1.5C pathway necessary to meet the goals of the Paris Agreement.

Jennifer Motles, Chief Sustainability Officer, said, "By presenting our low-carbon transformation strategy, we hope to encourage change and foster engagement with investors and other stakeholders who will be able to evaluate whether our company is appropriately adapting its business model for success in a net-zero carbon economy."