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The company’s annual disclosure unveils its Value Plan 2030+
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STAMFORD, CT — Philip Morris International (NYSE: PM) today released its Value Report 2025, offering a holistic perspective on the company’s approach to sustainable value creation. The report marks the completion of PMI’s 2025 Roadmap, communicating achievements for each aspiration introduced by the company in 2020, and introduces its Value Plan 2030+, set to guide the company’s continued path to sustainable growth.
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Top Stories
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For more than a decade, PMI has pursued an industry-leading shift away from cigarettes—a transformation that goes far beyond product innovation to encompass how we allocate capital, engage stakeholders, and measure success
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,” said Jacek Olczak, Group Chief Executive Officer.
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“‘change in motion’ captures the reality that transformation is not a project with a defined end date, it is the continuous work of improvement, innovation, and adaptation that keeps us relevant and resilient. We transform continuously because markets evolve, science advances, stakeholder expectations rise, and new opportunities emerge. This is who we are: a company perpetually in motion toward a better future, refusing to stand still even as we celebrate how far we have come
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Built on the progress that PMI has made over the past decade, the report explains how the company is securing the resources, capabilities, and stakeholder trust that will sustain its business for decades to come. The sustainability of the business is PMI’s strategy; it is how it secures resources, manages risk, meets stakeholder expectations, and future-proofs a business built to deliver results today, while securing the ability to deliver tomorrow.
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Our approach to value creation is anchored in a simple conviction: long-term financial success depends on the health of the resources and relationships that make it possible.
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By investing in natural, human, social, intellectual, and manufactured capital—what we define as non-financial capitals—we strengthen the very foundations on which long-term financial success depends,
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” said Emmanuel Babeau, Group Chief Financial Officer. “
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This is fundamental to our growth, resilience, and identity as a forward-thinking organization.
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PMI achieved meaningful progress across both product and operational impact in 2025, as it closed its 2025 Roadmap.
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PMI’s Business Transformation Metrics (BTMs) have provided stakeholders with clear, comparable indicators of our progress toward a smoke-free future. These metrics go beyond traditional reporting frameworks to capture aspects unique to PMI’s change of motion. They include the following:
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- Around 43.5 million adult consumers of smoke-free products worldwide.i
- PMI’s smoke-free products were available for sale in 106 markets.ii
- PMI’s smoke-free business net revenues reached USD 16.9 billion and represented 41.5% of total annual net revenues.iii
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In addition, PMI celebrated progress on:
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- 98% coverage of shipment volume with youth access prevention programs in its indirect retail channels.iv
- 91% coverage of shipment volumes with PMI’s anti-littering programs for cigarette butts.v
- 76% of PMI employees globally had access to structured lifelong learning opportunities. vi
- 99.6% of contracted farmers supplying tobacco to PMI made a living income by year-end 2025. This was achieved through initiatives aimed at boosting farm productivity and encouraging income diversification.vii
- 99.3% of tobacco purchased at no risk of net deforestation of managed natural forest and no conversion of natural ecosystems.viii
- 46% decrease versus 2019 on absolute Scope 1 and 2 greenhouse gas (GHG) emissions, with the company achieving carbon neutrality in its direct operationsix, and PMI’s absolute Scope 3 Forest, Land, and Agriculture (FLAG) GHG emissions decreased by 31% versus 2010.x
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“We have identified six strategic priorities that reflect what matters most to our stakeholders and our business: consumers and product health impact, circularity, climate change, nature and biodiversity, our own workforce, and workers throughout our value chain, which are consolidated in our Value Plan 2030+. This plan identifies where our actions intersect most significantly with business imperatives, ensuring our initiatives drive tangible outcomes across various forms of capital, creating a strategy that is comprehensive yet focused, ambitious yet pragmatic, and deeply integrated into how we operate and grow,”
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said Jennifer Motles, Chief Sustainability Officer.
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“Our plan is explicit about what we control directly and what requires the action of, and partnership with others, setting a strong foundation for effective action. That is the spirit with which we present our Value Plan 2030+, as an invitation to dialogue, a platform for collaboration, and a roadmap for the next chapter: turning sustainability into lasting business value.”
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PMI’s Value Plan 2030+ sets the course for the company’s next chapter—a continuation of the change in motion that has defined PMI’s evolution over the past decade. It focuses on accelerating the growth of its smoke-free product portfolio, working to make cigarettes obsolete, and exploring adjacent avenues of growth in wellness, while maintaining responsible sales and marketing practices, investing in human and natural capital, and strengthening the operational resilience that underpins long-term, sustainable value creation.