Sustainability Magazine June 2022 | Page 87

DIVERSITY

Tobacco giant Philip Morris announces near-future ambitions on smoke-free products , as well as employees ' wellbeing and diversity

WRITTEN BY : BLAISE HOPE

Leading international tobacco company Philip Morris International ’ s Sustainability Materiality Report 2021 , which was published this February 2022 , divides the company ’ s social and environmental impacts into two distinct categories . They are those that derive from PMI ’ s products , including “ product health impacts ,” “ sales , marketing , and consumer communications ,” and “ wellness and healthcare ”, and those that derive from its business activities .

PMI ’ s ultimate goal is centred around moving the world ’ s population away from cigarettes , permanently .
The company performed a structured five-step assessment , starting with identifying ESG topics , gathering both internal and external stakeholder perspectives , assessing both the outward and then inward impacts , as well as defining the most material environmental , social , and governance ( ESG ) topics .
According to the report , PMI ’ s “ product health impact ” has the biggest risks when it comes to reputation , regulation , and revenue growth ; it does also , however , carries the greatest opportunities . Combined with “ wellness and healthcare ”, which was included as a new topic in the 2021 assessment , the two resulted in a new goal for the company . sustainabilitymag . com 87