Philip Morris International

"Philip Morris International has set a net zero target of 2050, as included in their corporate policy. Net Zero Tracker
They aim to achieve carbon neutrality for their direct operations (scope 1 and 2 emissions) by 2030, and for their entire value chain (scope 1, 2, and 3 emissions) by 2050. Net Zero Tracker
An interesting fact about their environmental policy is that their targets for greenhouse gas emissions from company operations are consistent with reductions required to keep global warming to 1.5°C, making it a 1.5C Science Based Target. Net Zero Tracker
In addition, you can check out the …"

Current Score (vs. LY)

88.5 pts (-0.1)

Last Update: Dec. 12, 2023

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2021Y2020Y2019
Scope 1 308,822322,633397,210
Scope 2 - location-based 361,315383,895447,322
Scope 2 - market-based 64,21790,366158,672
Scope 1-2 - location-based 670,137706,528844,532
Scope 1-2 - market-based 373,039 412,999 555,882
Scope 3 3,748,4773,589,6284,126,610
Total - location-based 4,418,6144,296,1564,971,142
Total - market-based 4,026,239 3,915,514 4,568,714

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 4,049,3564,026,239
Methodology Previous year intensity (revenue)As reported

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.


Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)



Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

Philip Morris International belongs to the sector Consumer Staples.

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

Scope Reduction Objectives Base Year Target Year Comments
S3 25.0 2019 2025
S1S2MKT 50.0 2019 2030
S1S2S3MKT 50.0 2019 2030
S3 50.0 2019 2030
S1S2S3MKT 100.0 2019 2040


Net Absolute Emission Reductions

Scope Reduction Objectives Base Year Target Year Comments
S1S2MKT 100.0 2018 2030
S1S2S3MKT 100.0 2018 2050


Net Zero Future Commitments

Scope Scope 3 Coverage Target Year Comments
S1S2LOC NO 2030
S1S2S3LOC FULL 2050
S1S2MKT NO 2025
S1S2S3MKT FULL 2040


Science-based Targets (SBTI)

Date Published / Updated :01/08/2023

Near-term Long-Term Net Zero Standard
Targets Set : 1.5°C by 2030 Targets Set : 1.5°C by 2040 Yes by 2040
Philip Morris International is a member of the Business Ambition for 1.5 campaign (link here )

Overall Net-Zero Target
Philip Morris International commits to reach net-zero GHG emissions across the value chain by 2040.
Near-Term Targets
Energy/industrial
Philip Morris International commits to reduce absolute scope 1 and 2 GHG emissions 50% by 2030 from a 2019 base year*. Philip Morris International also commits to reduce absolute scope 3 GHG emissions 27.5% within the same timeframe*.
*The target boundary includes land-related emissions and removals from bioenergy feedstocks.
FLAG
Philip Morris International commits to reduce absolute scope 3 FLAG GHG emissions 33.3% by 2030 from a 2019 base year*. Philip Morris International also commits to no deforestation across its primary deforestation-linked commodities with a target date of FY2025.
*The target includes FLAG emissions and removals.
Long-Term Targets
Energy/industrial
Philip Morris International commits to reduce absolute scope 1, 2 and 3 GHG emissions 90% by 2040 from a 2019 base year.
*The target boundary includes land-related emissions and removals from bioenergy feedstocks.
FLAG
Philip Morris International commits to reduce absolute scope 3 FLAG GHG emissions 72% by 2040 from a 2019 base year*.
*The target includes FLAG emissions and removals.

Data source: SBTI

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Offsets

Last update for Philip Morris International by zerotracker.net: June 10, 2022
Planning to use external offset credits Yes
Separate targets for emission reductions and removals No
Conditions on use of offset credits
  • No conditions specified
Plans for carbon dioxide removal (CDR) Yes (nature-based removals e.g. Forestation, soil carbon enhancement)

Additional notes: "high-quality carbon offset projects from myclimate, using certification from Plan Vivo" abate our emissions through offsetting (e.g., acquisition of green certificates) or in-setting initiatives (e.g., agroforestry projects, and carbon sequestration programs source PMI Integrated report https://www.pmi.com/sustainability/protecting-the-environment

Data source from zerotracker.net - For more information, see methodology

Score Summary

Ref Principle Score
(points)
Max
(points)
Delta
(points)
1 At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified 10.0 10.0 0.0
2 Scope 3 emissions are fully reported and externally-verified 10.0 10.0 0.0
3 CDP score demonstrates the level of transparent disclosures 10.0 10.0 0.0
Transparency 30.0 30.0 0.0
4 Net Zero Commitments by 2050 include an intermediate target and cover all the emissions 10.0 10.0 0.0
5 Net Zero targets demonstrate a high-level of emergency 5.833333333333334 10.0 0.0
6 Emission reduction targets on a forward-looking basis are ambitious 7.639558973896059 10.0 -0.1
7 Targets are science-based as validated by SBTi 10.0 10.0 0.0
Commitments 33.472892307229394 40.0 -0.1
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 10.0 10.0 0.0
9 Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 5.0 10.0 0.0
10 Implied Temperature Rating by MSCi 10.0 10.0 0.0
Results 25.0 30.0 0.0
Total 88.5 100.0 -0.1


Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email


Score Details

Criteria Results 2023 Score 2022 Score Vs. 2022 2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period? yes 5.0 / 5.0 5.0 0.0 5.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year? yes 5.0/ 5.0 5.0 0.0 5.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed? full 5.0 / 5.0 5.0 0.0 5.0
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? full 5.0 / 5.0 5.0 0.0 5.0
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)? A 10.0 / 10.0 10.0 0.0 10.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050? yes 3.0 / 3.0 3.0 0.0 3.0
Does the net zero target include an intermediate target by 2030? 2025 3.0 / 3.0 3.0 0.0 3.0
Does the net zero target include all the emissions? yes 4.0 / 4.0 4.0 0.0 4.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? 2025 4.2 / 5.0 4.2 0.0 3.3
Target year for achieving net zero emissions for S1+S2+S3 combined? 2040 1.7 / 5.0 1.7 0.0 0.0
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2? 2.8
2.8 / 5.0 2.8 0.0 3.3
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3? 4.8
4.8 / 5.0 5.0 -0.1 4.2
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to? Targets Set 1.5°C 10.0 / 10.0 10.0 0.0 10.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %): 9.1
Actual (in %): 32.9
5.0 / 5.0 5.0 0.0 5.0
Momentum: last year % reduction vs. forward-looking target Objective (in %): 2.8
Actual (in %): 9.7
5.0 / 5.0 5.0 0.0 5.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target Objective (in %): 9.1
Actual (in %): 11.9
5.0 / 5.0 5.0 0.0 5.0
Momentum: last year % reduction vs. forward-looking target Objective (in %): 4.8
Actual (in %): -2.8
0.0 / 5.0 0.0 0.0 5.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets? ITR: 1.3°C 10.0 / 10.0 10.0 0.0 10.0
Total 88.5 / 100.0 88.6 -0.1 90.8


Available Data Sources

Reporting Year 2021 2021 2021 2021 2020 2020 2020 2019 2019 2019 2018 2018
Source NZPDU CDP Public Yourstake CDP NZPDU Public CDP NZPDU Public Public NZPDU
Publication Year 2022 2021 2022 unknown 2021 2021 2021 2020 2020 2021 2021 2019
Scope 1 308,822 308,822 308,822 308,822 322,633 322,633 322,633 397,210 397,210 397,210 408,162 408,162
Scope 2 - location-based 361,315 361,315 NA NA 383,895 383,895 383,896 447,322 447,322 0 0 422,337
Scope 2 - market-based 64,217 64,217 64,217 64,217 90,366 90,366 90,366 158,672 158,672 158,672 175,785 175,785
Scope 1-2 - location-based 670,137 670,137 308,822 308,822 706,528 706,528 706,529 844,532 844,532 397,210 408,162 830,499
Scope 1-2 - market-based 373,039 373,039 373,039 373,039 412,999 412,999 412,999 555,882 555,882 555,882 583,947 583,947
Scope 3 3,748,477 3,748,477 3,748,477 3,748,000 3,589,628 3,589,628 0 4,126,610 4,126,610 0 0 4,919,763
Total - location-based 4,418,614 4,418,614 4,057,299 4,056,822 4,296,156 4,296,156 706,529 4,971,142 4,971,142 397,210 408,162 5,750,262
Total - market-based 4,026,239 4,121,516 4,121,516 4,121,039 3,915,514 3,915,514 412,999 4,568,714 4,568,714 555,882 583,947 5,352,210

Sources

Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email