NET 0 Tracker
Philip Morris International
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, 2023Greenhouse Gas Emissions
Last 3 Years Emissions Data Summary
| Y2021 | Y2020 | Y2019 | |
|---|---|---|---|
| Scope 1 | 308,822 | 322,633 | 397,210 |
| Scope 2 - location-based | 361,315 | 383,895 | 447,322 |
| Scope 2 - market-based | 64,217 | 90,366 | 158,672 |
| Scope 1-2 - location-based | 670,137 | 706,528 | 844,532 |
| Scope 1-2 - market-based | 373,039 | 412,999 | 555,882 |
| Scope 3 | 3,748,477 | 3,589,628 | 4,126,610 |
| Total - location-based | 4,418,614 | 4,296,156 | 4,971,142 |
| Total - market-based | 4,026,239 | 3,915,514 | 4,568,714 |
Note: Data sources detailed here
| Y2022 | Y2021 | |
|---|---|---|
| Total CO2e estimate (by Net0Tracker) | 4,049,356 | 4,026,239 |
| Methodology | Previous year intensity (revenue) | As reported |
Carbon emissions are estimated according to comparable years, intensity and sector benchmarks
Performance vs. Target
Value Chain (scope 3) Emissions by Category
Emissions Trajectory (Full Scopes)
Please refer to the library for viewing the supporting documentation
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.
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 |
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.
Offsets
Last update for Philip Morris International by zerotracker.net: Sept. 4, 2024| Planning to use external offset credits | Yes |
| Separate targets for emission reductions and removals | No |
| Conditions on use of offset credits |
|
| Plans for carbon dioxide removal (CDR) | Yes (nature-based removals e.g. Forestation, soil carbon enhancement) |
Additional notes: "Deploying our Portfolio of Climate Investments (PCI): The PCI is a bespoke initiative we introduced in 2021 to standardize and provide transparency in our approach to investments in projects generating carbon credits...the PCI focused on securing high-quality offsets to support PMI’s decarbonization journey and provided the carbon offsets required for the five manufacturing sites and 11 markets that achieved carbon neutrality certification during the calendar year." (P.135-136, 2023 Integrated Report) "Our long-term goal is to further explore insetting projects in our supply chain to generate carbon credits and focus our investments on nature-based solutions." (P.134, 2023 Integrated Report)
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 |
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
- Yourstake: Data from YourStake.org - see Free SFDR data library
- CDP: Data from CDP Climate Change Questionnaire - see Free SFDR data library
Please refer to the library for viewing the supporting documentation
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