Altria Releases Its Inaugural Task Force on Climate-Related Financial Disclosures Report
16 November 2021 - 3:00PM
Business Wire
Altria Group, Inc. (“Altria”) (NYSE:MO) today announces its
first standalone Task Force on Climate-related Financial
Disclosures (TCFD) report. Altria is proud to be the first U.S
tobacco company to join more than 2,700 supporters of the TCFD. The
TCFD was formed by the Financial Stability Board in 2015 to help
companies provide decision-useful information about their
climate-related risks and opportunities to investors. In 2017, the
TCFD published final recommendations across four core elements:
governance, strategy, risk management, and metrics and targets.
“Just as we believe in the benefits of a science- and
evidence-based approach for our industry and tobacco harm
reduction, we believe in a science-based approach for climate
action,” said Sal Mancuso, Executive Vice President & Chief
Financial Officer. “We also acknowledge this is our first TCFD
report and expectations for Environmental, Social and Governance
disclosure are rapidly changing. We intend to learn as we go while
responding to this dynamic environment as we evolve our reporting
in the future.”
Altria’s support for the TCFD is consistent with its commitment
to transparency. This year, Altria disclosed its progress and key
metrics for each of its responsibility focus areas:
- Protect the Environment
- Reducing Harm and Preventing Underage Use
- Drive Responsibility Through Our Value Chain
- Supporting Our People & Communities
- Engage & Lead Responsibly
Altria’s responsibility focus areas are guided by its
materiality assessment process – a comprehensive, formal approach
to identify the most impactful ESG issues that Altria believes are
important to its long-term sustainability and success.
Altria has made a strong commitment to reducing its
environmental impact, both in its companies' direct operations and
in the value chain (from supplier to retailer).
For more information about the TCFD, please visit
www.fsb-tcfd.org.
Altria’s Profile Altria has
a leading portfolio of tobacco products for U.S. tobacco consumers
age 21+. Altria’s Vision by 2030 is to responsibly lead the
transition of adult smokers to a smoke-free future (Vision). Altria
is Moving Beyond Smoking™, leading the way in moving adult smokers
away from cigarettes by taking action to transition millions to
potentially less harmful choices - believing it is a substantial
opportunity for adult tobacco consumers, Altria’s businesses and
society.
Altria’s wholly owned subsidiaries include the most profitable
tobacco companies in their categories: Philip Morris USA Inc. (PM
USA), U.S. Smokeless Tobacco Company LLC (USSTC) and John Middleton
Co. (Middleton). Altria’s smoke-free portfolio includes Helix
Innovations LLC (Helix), the maker of on! oral nicotine pouches,
exclusive U.S. commercialization rights to the IQOS Tobacco Heating
System® and Marlboro HeatSticks®, and an equity investment in JUUL
Labs, Inc. (JUUL).
Altria also owns equity investments in Anheuser-Busch InBev
SA/NV (ABI), the world’s largest brewer, and Cronos Group Inc.
(Cronos), a leading Canadian cannabinoid company.
The brand portfolios of Altria’s tobacco operating companies
include Marlboro®, Black & Mild®, Copenhagen®, Skoal® and on!®.
Trademarks and service marks related to Altria referenced in this
release are the property of Altria or its subsidiaries or are used
with permission.
Learn more about Altria at www.altria.com and follow us on
Twitter, Facebook and LinkedIn.
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