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Philip Morris International Tops Forbes 2024 Net Zero Leaders Ranking

Karachi: Philip Morris International (PMI) has been ranked first in the Forbes 2024 Net Zero Leaders ranking, an accolade recognizing U.S. public companies making significant strides in reducing Green House Gas (GHG) emissions. This top placement reflects PMI's ongoing transformation towards sustainability and a reduced carbon footprint in its operations worldwide.

According to Philip Morris International, this recognition by Forbes underlines PMI’s commitment to reshaping its business practices to prioritize environmental sustainability. "We are honored to be recognized by Forbes to be ranked first among businesses that are at the forefront striving towards net zero," stated Jacek Olczak, Chief Executive Officer of PMI. He highlighted the company's departure from legacy businesses and a firm commitment to integrating sustainability into every facet of their operations.

Further efforts by PMI's affiliate in Pakistan, Philip Morris (Pakistan) Limited (PMPKL), include significant operational changes to enhance sustainability. Roman Yazbeck, CEO of PMPKL, noted, "Our climate strategy aims to address pertinent climate change-related risks and build resilience while seizing opportunities presented by a low-carbon future." In 2023, PMPKL's Sahiwal factory produced 15% of its energy from renewable sources and achieved an 11.54% fuel saving by installing new metallic furnaces across five locations, compared to traditional venturi furnaces. These initiatives are part of a broader strategy to lessen environmental impacts and advance sustainability in Pakistan.