Document evaluates the PMI Group’s environmental, social and governance performance, integrating sustainability practices with the organization’s financial performance. Tabaqueira is a case study.
Philip Morris International (PMI), of which Tabaqueira is a subsidiary, has just published its first Integrated Report, a document that reports on the Group’s comprehensive sustainability vision and that accounts for environmental, social and governance performance (of the acronym in English, ESG) of the Organization on its path towards a smoke-free future – and which aims, by 2025, to transfer more than 40 million adult smokers to alternative products without combustion.
This first edition of the PMI Integrated Report, for 2019, points out the Portuguese Tabaqueira as a case study in the most diverse practices of environmental, social and governance performance, underlining, for example, the success that the company had in implementing new products of heated tobacco without combustion in the Portuguese market, namely IQOS. Approximately 200 thousand Portuguese have already exchanged traditional cigarettes for other innovative alternatives that allow them to consume nicotine in a less harmful way.
The various environmental awareness campaigns promoted by Tabaqueira and which seek to alert and encourage consumers to properly dispose of cigarette filters in ashtrays and waste bins, in partnership with Portuguese municipalities and large events, such as the Regatta de Portugal or festivals in Portugal. summer, also deserve a positive note from the multinational PMI.
The document also highlights the good practices of Tabaqueira, one of the main production centers of PMI in Europe, with regard to sustainable management, noting that, in 2019, it was the first factory in Portugal to guarantee Alliance for Water Stewardship Certification ( AWC), which recognizes sustainable water management. Additionally, it reinforces the important work that the Portuguese organization has been doing in the area of work safety. The elimination of risky behavior among its factory workers is one of the priorities for Tabaqueira, which, among other actions, has invested in awareness-raising initiatives and behavioral change programs.
Miguel Matos, General Director of Tabaqueira, says: “A Tobacco Company can even be sustainable! And reducing the harmful effects of tobacco products is the main contribution we can make to a more sustainable future.
At Tabaqueira, we seek to have an integrated view of sustainability practices throughout our entire value chain, since this is the only way we believe it is possible to move towards a smoke-free future. Over the past few years, we have sought to have a 360º sustainability vision for the entire company, and the fact that Tabaqueira is considered a case study within the PMI universe demonstrates our commitment and proves that we are on the right path.
For this reason, the priority we have given to environmental awareness actions, work safety programs in our factory and efficient management of resources, such as water. Another not less important aspect is the responsible marketing of our products, where I clearly highlight all initiatives to prevent young people’s access to tobacco or nicotine products, as well as a strict and comprehensive code of conduct that is followed by all employees. Finally, I cannot fail to emphasize that sustainability is also diversity and inclusion. In this context, I emphasize that we were the first company in Portugal to be certified for equal pay for men and women.”
Integrated Report allows aligning sustainability initiatives with financial performance
PMI’s Integrated Report 2019 aims to demonstrate the role of organizational strategy, governance and performance in creating value in the short, medium and long terms. In addition, it sets new and ambitious targets for 2025.
The evolution of the Sustainability Report to the Integrated Report allows PMI to help investors make the connection between the different product-oriented sustainability initiatives (which are the center of the environmental, social and governance strategy) and the group’s performance, over time. This document also allows different stakeholders to better assess the company’s progress in pursuing its purpose.