LAUSANNE, Switzerland -- (BUSINESS WIRE) --
Philip Morris International Inc. (PMI) (NYSE: PM) today announced that it has been included in the 2023 Bloomberg Gender-Equality Index (GEI) for the third year running. With an overall score of 80.6%, surpassing the index average score of 73%, PMI joins an A-list of global companies committed to transparency in gender reporting and advancing equality in the workplace.
“Achieving gender balance at all levels of the company is one of our top priorities, and I am delighted that our efforts are recognized again in this year’s index,” commented Silke Muenster, Chief Diversity Officer at PMI. “While we are making significant progress, we know we need to keep our foot on the acceleration pedal. An inclusive workplace that leverages the full talents of both women and men is crucial to our smoke-free vision, making our organization more innovative, resourceful, and engaged.”
In 2022, PMI achieved its target of ensuring at least 40% female representation in managerial roles and announced a new target to achieve 35% of women in senior roles by the end of 2025. Other initiatives to further gender equality at PMI include the following.
- Becoming the first EQUAL-SALARY globally certified company (March 2019) and the first company to be re-certified (April 2022), confirming equal pay for equal work for women and men everywhere PMI operates (90+ countries).
- Addressing gender bias in talent assessments—including in recruitment, performance management, and opportunities for promotion.
- Evolving how businesses measure inclusion. PMI sponsored pioneering research by the IMD in Lausanne, Switzerland, published in 2022, on how inclusion is measured and how this should evolve to drive impact. We are now piloting a new way to measure inclusion within PMI.
- Introduction of global inclusive parental leave guidelines (2021).
- Launching an employee resource group for women, to provide a supportive place to inspire and empower women to advance their skills, expand their network, and unlock their full potential.
- Celebrating the talents of women by launching a women-in-leadership program to support females in leadership positions.
The 2023 Bloomberg GEI comprises 485 companies from 45 countries and regions. GEI is a modified market capitalization-weighted index that aims to track the performance of public companies committed to transparency in gender-data reporting. It measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies, and pro-women brand. Companies included on this year’s index scored at or above a global threshold established by Bloomberg to reflect disclosure and the achievement or adoption of best-in-class statistics and policies.
“Congratulations to the companies that are included in the 2023 GEI,” said Peter T. Grauer, chairman of Bloomberg and founding chairman of the U.S. 30% Club. “We continue to see an increase in both interest and membership globally, reflecting a shared goal of transparency in gender-related metrics.”
PMI submitted a social survey created by Bloomberg, in collaboration with subject matter experts globally.
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About the Bloomberg Gender-Equality Index (GEI)
Companies submitted a social survey created by Bloomberg, in collaboration with subject matter experts globally. Those included on this year’s index scored at or above a global threshold established by Bloomberg to reflect disclosure and the achievement or adoption of best-in-class statistics and policies.
Both the survey and the GEI are voluntary and have no associated costs. Bloomberg collected this data for reference purposes only. The index is not ranked. While all public companies are encouraged to disclose supplemental gender data for their company’s investment profile on the Bloomberg Terminal®, those that have a market capitalization of USD 1 billion are eligible for inclusion in the index. For more information on the GEI and how to submit information for next year’s index, visit: https://www.bloomberg.com/gei. Bloomberg clients can access the GEI at {BGEI Index DES <GO>}.
For more information on Bloomberg’s sustainable finance solutions, including the GEI, please visit: https://www.bloomberg.com/professional/sustainable-finance/.
Bloomberg media contact: GEIComms@bloomberg.net
Philip Morris International: Delivering a Smoke-Free Future
Philip Morris International (PMI) is a leading international tobacco company working to deliver a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products, which are sold in markets outside the U.S. Since 2008, PMI has invested more than USD 9 billion to develop, scientifically substantiate, and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. The U.S. Food and Drug Administration (FDA) has authorized the marketing of versions of PMI’s IQOS Platform 1 devices and consumables as modified risk tobacco products (MRTPs), finding that exposure modification orders for these products are appropriate to promote the public health. As of September 30, 2022, excluding Russia and Ukraine, PMI’s smoke-free products are available for sale in 70 markets, and PMI estimates that approximately 13.5 million adults around the world had already switched to IQOS and stopped smoking. With a strong foundation and significant expertise in life sciences, in February 2021, PMI announced its ambition to expand into wellness and healthcare areas and deliver innovative products and solutions that aim to address unmet consumer and patient needs. For more information, please visit www.pmi.com and www.pmiscience.com.
About Bloomberg
For more information on Bloomberg’s sustainable finance solutions, including the GEI, please visit: https://www.bloomberg.com/professional/sustainable-finance/.
Bloomberg, the global business and financial information and news leader, gives influential decision- makers a critical edge by connecting them to a dynamic network of information, people, and ideas. The company’s strength—delivering data, news, and analytics through innovative technology, quickly and accurately—is the core of Bloomberg Professional Services. For more information, visit www.bloomberg.com or request a demo.
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CONTACT:
Philip Morris International
David Fraser
T. +41 (0)58 242 4500
E. david.fraser@pmi.com
