PMI publishes report detailing history,
strategy, challenges, and progress made; ALP’s learnings will
support the development of Verité’s upcoming ‘Farm Labor Due
Diligence Toolkit’
Today, in recognition of International Day of Human Rights and
the International Year for the Elimination of Child Labor (2021),
Philip Morris International Inc. (PMI) (NYSE: PM) publishes its
Agricultural Labor Practices: 10-Year Anniversary Report. The
report recognizes the company’s decade-long Agricultural Labor
Practices (ALP) program, which launched in 2011 with the aim to
eliminate child labor and to achieve safe and fair working
conditions on farms where PMI sources tobacco.
“In marking the 10-year anniversary of our ALP program and the
International Year for the Elimination of Child Labor, we have
developed a comprehensive report to reflect on the progress we’ve
made while acknowledging that accelerated action is more urgent
than ever,” said Jennifer Motles, Chief Sustainability Officer,
PMI. “We are acutely aware that poverty and inequality are at the
root of child labor and other human rights issues. Through our
focus on living income, we aim to build resilience in our farming
communities, provide new and alternative sources of revenue, and
improve income levels and households’ livelihoods.”
Updated in 2019 to include its living income target, PMI’s ALP
program remains one of the most ambitious and comprehensive efforts
to improve labor practices in a global agricultural supply chain.
The report reaffirms the company’s commitment to continue
protecting, promoting, and supporting the socioeconomic well-being
of tobacco-farming communities. This includes the ambition to
achieve 100% of its contracted farmers paying at least the legal
minimum wage by 2022, zero child labor in its tobacco supply chain
by 2025, 100% of its contracted farmers making a living income by
2025, and 100% of contracted farmers supplying tobacco to PMI to
have basic water access by 2025 and access to basic sanitation and
hygiene by 2030.
These strategic ambitions continue to build on important ALP
targets already achieved in previous years, which include providing
safe and decent accommodation to workers, and ensuring 100% of
farmers and workers have access to personal protective equipment
for the application of crop protection agents and prevention of
green tobacco sickness.
In commemoration of the 10-year anniversary, PMI is also
partnering with Verité to integrate its learnings into an
open-source toolkit that will aid companies, suppliers, and
producers in driving improvements in labor practices of
agricultural supply chains around the world. The initiative, called
the “Verité Farm Labor Due Diligence Toolkit,” is part of an action
pledge Verité has made in support of the International Year for the
Elimination of Child Labor.
The toolkit will draw on the insights developed during Verité’s
collaboration with PMI on the ALP program, as well as Verité’s work
with other clients. PMI will join a coalition of other
private-sector sponsors convened by Verité to support the toolkit
initiative, helping to prioritize, develop, and promote the
materials to be included within.
Anna Kletsidou, Head of Social Impact, PMI, said: “By continuing
to collaborate with our partners such as Verité, we further
strengthen our foundations, scale our efforts, and share our
learnings to improve agriculture labor practices. As the company
delivers a smoke-free future, we are expanding into
electronics—leveraging our ALP learnings, PMI remains alert to
environmental and social impacts created by this supply chain and
is developing robust strategies to address them.”
Since its implementation, PMI’s ALP program has showcased the
importance of partnership, digitalization, and continuous
improvement. Earlier this year, PMI commissioned a publication
focused on climate justice and the interconnectivity between
environmental and social issues, recognizing the impact of climate
change on human rights and the need to develop coherent and
inclusive strategies.
To learn more about PMI’s ALP program, its work with Verité, or
to read the anniversary report, visit the PMI Social Sustainability
landing page.
Forward-Looking and Cautionary Statements This press
release contains projections of future results and other
forward-looking statements. Achievement of future results is
subject to risks, uncertainties and inaccurate assumptions. In the
event that risks or uncertainties materialize, or underlying
assumptions prove inaccurate, actual results could vary materially
from those contained in such forward-looking statements. Pursuant
to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995, PMI is identifying important factors
that, individually or in the aggregate, could cause actual results
and outcomes to differ materially from those contained in any
forward-looking statements made by PMI.
PMI's business risks include: excise tax increases and
discriminatory tax structures; increasing marketing and regulatory
restrictions that could reduce our competitiveness, eliminate our
ability to communicate with adult consumers, or ban certain of our
products in certain markets or countries; health concerns relating
to the use of tobacco and other nicotine-containing products and
exposure to environmental tobacco smoke; litigation related to
tobacco use and intellectual property; intense competition; the
effects of global and individual country economic, regulatory and
political developments, natural disasters and conflicts; changes in
adult smoker behavior; lost revenues as a result of counterfeiting,
contraband and cross-border purchases; governmental investigations;
unfavorable currency exchange rates and currency devaluations, and
limitations on the ability to repatriate funds; adverse changes in
applicable corporate tax laws; adverse changes in the cost,
availability, and quality of tobacco and other agricultural
products and raw materials, as well as components and materials for
our electronic devices; and the integrity of its information
systems and effectiveness of its data privacy policies. PMI's
future profitability may also be adversely affected should it be
unsuccessful in its attempts to produce and commercialize
reduced-risk products or if regulation or taxation do not
differentiate between such products and cigarettes; if it is unable
to successfully introduce new products, promote brand equity, enter
new markets or improve its margins through increased prices and
productivity gains; if it is unable to expand its brand portfolio
internally or through acquisitions and the development of strategic
business relationships; or if it is unable to attract and retain
the best global talent. Future results are also subject to the
lower predictability of our reduced-risk product category's
performance.
PMI is further subject to other risks detailed from time to time
in its publicly filed documents, including the Form 10-Q for the
quarter ended September 30, 2021. PMI cautions that the foregoing
list of important factors is not a complete discussion of all
potential risks and uncertainties. PMI does not undertake to update
any forward-looking statement that it may make from time to time,
except in the normal course of its public disclosure
obligations.
Philip Morris International: Delivering a Smoke-Free
Future Philip Morris International (PMI) is leading a
transformation in the tobacco industry to create a smoke-free
future and ultimately replace cigarettes with smoke-free products
to the benefit of adults who would otherwise continue to smoke,
society, the company, its shareholders, and other stakeholders. PMI
is a leading international tobacco company engaged in the
manufacture and sale of cigarettes, as well as smoke-free products,
associated electronic devices and accessories, and other
nicotine-containing products in markets outside the U.S. In
addition, versions of PMI’s IQOS Platform 1 device and consumables
have received marketing authorizations from the U.S. Food and Drug
Administration (FDA) under the premarket tobacco product
application (PMTA) pathway; the FDA has also authorized the
marketing of a version of IQOS and its consumables as a Modified
Risk Tobacco Product (MRTP), finding that an exposure modification
order for these products is appropriate to promote the public
health. PMI is building a future on a new category of smoke-free
products that, while not risk-free, are a much better choice than
continuing to smoke. Through multidisciplinary capabilities in
product development, state-of-the-art facilities, and scientific
substantiation, PMI aims to ensure that its smoke-free products
meet adult consumer preferences and rigorous regulatory
requirements. PMI’s smoke-free product portfolio includes
heat-not-burn products, nicotine-containing vapor products, and
oral nicotine products. As of September 30, 2021, PMI’s smoke-free
products are available for sale in 70 markets in key cities or
nationwide, and PMI estimates that approximately 14.9 million
adults around the world have already switched to IQOS and stopped
smoking. For more information, please visit www.pmi.com and
www.pmiscience.com.
About Verité Verité is an
independent, non-profit, civil society organization (CSO),
recognized for its unique credibility. Since 1995, they have
partnered with hundreds of corporations, governments, and CSOs to
illuminate labor rights violations in supply chains and remedy them
to the benefit of workers and companies alike. Verité has been
recognized by the Skoll Award for Social Entrepreneurship and
Schwab US Social Entrepreneur of the Year. Verité’s goals are to
provide businesses with tools that help to eliminate labor abuses;
To empower workers to advocate for their rights; To create
publicly-shared resources that enlighten and drive action; To
contribute their expertise to government labor and human rights
policy. Verité has a history of work in over 70 countries, with a
global network of experts in Africa, Asia, Europe, South America,
North America and Australia. Visit their website to find out
more.
# # #
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211210005181/en/
Philip Morris International David Fraser T. +41 (0)58 242 4500
E. david.fraser@pmi.com
Philip Morris (NYSE:PM)
Historical Stock Chart
Von Feb 2024 bis Mär 2024
Philip Morris (NYSE:PM)
Historical Stock Chart
Von Mär 2023 bis Mär 2024