Philip Morris International Inc. (PMI) (NYSE: PM) has today been added to the 2021 Bloomberg Gender-Equality Index (GEI) for its transparency in gender reporting and advancing women’s equity. This recognition underscores PMI’s work to progress gender equity in the workplace and to ensure equal opportunities for all employees.
“I am delighted that PMI has been named to the 2021 Bloomberg Gender-Equality Index for our focus on advancing gender equity,” said Silke Muenster, Chief Diversity Officer at PMI. “We count on inclusion to better our organization and believe everyone has an important role to play in making PMI a more inclusive and diverse employer. From striving to improve our gender balance at all levels to maintaining our global leadership on equal pay, our efforts are not only an essential part of being a responsible corporate citizen and contributing to our shared global sustainability goals but also crucial to our progress toward delivering a smoke-free future.”
The Bloomberg GEI measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand. PMI is one of 380 companies across 11 sectors included in this year’s index, all of which scored at or above a global threshold established by Bloomberg to reflect a high level of disclosure and overall performance across the framework’s pillars. PMI’s recognition stems from the host of efforts it has made in recent years, including:
- Setting a global company-wide target to improve gender balance to at least 40 percent female representation in management by 2022 and measuring and reporting progress against it;
- Becoming the first EQUAL-SALARY globally certified company (March 2019), confirming equal pay for equal work for women and men everywhere PMI operates (90+ countries);
- Appointing a Chief Diversity Officer, who reports directly to the CEO;
- Addressing gender bias in talent assessments—including in recruitment, performance management, and opportunities for promotion;
- Offering flexible working arrangements for employees and supporting women and men in better balancing work and family commitments with parental leave; and
- Celebrating top female talent as role models and offering formal and informal opportunities for women to build valuable connections for support, learning, and mentoring.
“The companies included in the 2021 GEI are expanding the ESG data universe to include gender-related data that investors are demanding today,” said Peter T. Grauer, Chairman of Bloomberg. “Their commitment to disclosure is making the business case for inclusion and driving transparency in the markets.”
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, and its shareholders. PMI is a leading international tobacco company engaged in the manufacture and sale of cigarettes, as well as smoke-free products and associated electronic devices and accessories, and other nicotine-containing products in markets outside the U.S. In addition, PMI ships a version of its IQOS Platform 1 device and its consumables to Altria Group, Inc. for sale under license in the U.S., where the U.S. Food and Drug Administration (FDA) has authorized their marketing 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 and nicotine-containing vapor products. As of Sept. 30, 2020, PMI estimates that approximately 11.7 million adult smokers around the world have already stopped smoking and switched to PMI’s heat-not-burn product, available for sale in 61 markets in key cities or nationwide under the IQOS brand. For more information, please visit www.pmi.com and www.pmiscience.com.
The Bloomberg Gender-Equality Index (GEI)
The Bloomberg GEI brings transparency to gender-related practices and policies at publicly listed companies, increasing the breadth of environmental, social, governance (ESG) data available. Companies included in this year’s index scored at or above a global threshold established by Bloomberg to reflect a high level of disclosure and overall performance across the framework’s five pillars.
Both the framework and the GEI are voluntary and have no associated costs. The GEI is a reference index and is not for use as a financial benchmark. The index is not ranked.
Through disclosure of gender-related metrics using the GEI framework, companies included in the 2021 GEI have committed to providing a comprehensive look at their investment in workplace gender equality and the communities in which they operate, raising the bar of what should be expected from other companies within the same industry. For more information, please visit https://www.bloomberg.com/gei/about/.
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