• No. 1 ranking marks PMI's second consecutive year among top 10 U.S. companies driving the transition to a low-carbon economy

Dubai, United Arab Emirates, June 13, 2024 – Philip Morris International Inc. (PMI) (NYSE: PM) has ranked first in Forbes' 2024 Net Zero Leaders ranking, which highlights the 100 U.S. public companies best positioned to reduce their greenhouse gas (GHG) emissions.
 
Forbes used data from firms Sustainalytics and Morningstar to rank companies' commitment to a net zero future. It also considered each company's management structure to aid in risk assessment, governance, strategy, metrics for achieving decarbonization goals for scopes 1+2+3, as well as financial strength to withstand industry competition and economic turmoil.

'Our approach to sustainability goes beyond minimizing negative externalities and mitigating risks. Deeply connected to our transformation strategy, sustainability has always been intended to embody a profound opportunity for innovation, growth, and long-term value creation,' explained Jennifer Motles, Chief Sustainability Officer at PMI. 'Our dedication reflects our response to the concerns of our shareholders and other stakeholders alike, and our climate strategy aims to address pertinent climate change-related risks and build resilience while seizing opportunities presented by a low-carbon future.'

 
'Being recognized as Forbes' top Net Zero Leader for 2024 marks a significant achievement in PMI's sustainability efforts. This accolade reflects PMI's comprehensive approach to integrating sustainability into every facet of its business, aligning with Environmental, Social, and Governance (ESG) Reporting standards.' Commented Monica Barten, Communications Director, Philip Morris Management Services (Middle East) Ltd.
'Our initiatives here in the Middle East, such as the Consumables Take Back Program in Dubai and Kuwait, along with our World is Not an Ashtray education initiative, demonstrates our proactive stance in reducing the environmental impacts of our products across the region. Moreover, our operational strategies focus on minimizing environmental footprint and fostering a culture of sustainability among employees, emphasizing the importance of understanding, and protecting local biodiversity and managing post-consumer waste. The recognition by Forbes underscores PMI's commitment to driving positive change and leading the way towards a sustainable, smoke-free future.'
 
This distinction complements growing external recognition of PMI's sustainability performance and reporting, including:

• Inclusion in CDP's Supplier Engagement Leader Board for the seventh year (announced March 2024)
• Achievement of CDP's Triple A rating for the fourth consecutive year—placing PMI among the world's leading companies in environmental transparency and action (announced February 2024)
• Early Adopter of the Taskforce on Nature-related Financial Disclosures (TNFD) framework (as of January 2024)
• Inclusion in the Dow Jones Sustainability World Index (DJSI) for the first time and the Dow Jones Sustainability North America Composite Index for the fourth consecutive year (index inclusion effective as of Dec. 18, 2023), in addition to being awarded 'Prime' status in the ISS ESG Corporate Rating (ISS ESG Rating as of Nov. 21, 2023)
• Validation from the Science Based Targets initiative (SBTi) on its Forest, Land, and Agriculture (FLAG) emissions reduction targets, making PMI one of very few companies to achieve this recognition (as of August 2023)