Philip Morris says ranks top in net zero efforts

KARACHI: Philip Morris International (PMI) proudly announced its top ranking in the Forbes 2024 Net Zero Leaders ranking, underscoring its commitment to sustainability and transformational business practices.

The recognition identifies PMI among the 100 US public companies leading efforts to reduce Greenhouse Gas Emissions (GHG), according to a press release issued on Tuesday. “We are honoured to be recognized by Forbes to be ranked first among businesses that are at the forefront striving towards net zero,” said, Chief Executive Officer of the PMI Jacek Olczak, adding that the company “is completely transforming and leaving its legacy businesses behind. Our progress is measured, reported, and real. We are acutely aware that we can only achieve our purpose by embedding sustainability in every aspect of our business.”

In line with this, Philip Morris (Pakistan) Limited (PMPKL), an affiliate of PMI, prioritizes sustainability in its operations. CEO of PMPKL Roman Yazbeck in his remarks stated, “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 generated 15 per cent of its total yearly energy demand from renewable energy. To reduce CO2 emissions, PMPKL introduced barn and furnace improvements to decrease firewood consumption and improved 86 per cent furnaces of its contracted barns.

Furthermore, PMPKL installed five metallic furnaces successfully at five locations during the crop year 2023, which resulted in the fuel savings of 11.54 per cent vs commonly used venturi furnaces.