Philip Morris International Bulgaria: Has Invested $12.5 Billion And Plans To Achieve Two-thirds Of Its Revenue From Smoke-free Products By 2030

Philip Morris International Bulgaria: has invested $12.5 billion and plans to achieve two-thirds of its revenue from smoke-free products by 2030

Philip Morris International Bulgaria has invested over $12.5 billion in the research and development of smoke-free alternatives, and it is expected that two-thirds of its revenue will come from these products by 2030. At the same time, the company has set goals to achieve carbon neutrality in business operations by 2025 and carbon neutrality throughout the entire value chain by 2040.

According to Business On October 23rd, DIR.BG reported that Dilyana Yakova, Regulatory and Sustainable Development Manager of Philip Morris International Bulgaria, promised in the podcast program "What Money Can Do" to achieve carbon neutrality in scope 1 and 2 business operations and production by 2025, and to achieve carbon neutrality in the entire value chain by 2040.

The person in charge stated that since 2009, the company has invested over $12.5 billion in the research and production of smoke-free alternative products that can reduce consumer harm. The research and analysis process of these smoke-free alternatives is similar to that of drugs and pharmaceutical products. Through these smoke-free products, it is possible to effectively reduce 90-95% of harmful emissions generated by traditional tobacco products.

In 2023, 36% of the company's net revenue comes from the sales of heated tobacco products, which are currently sold in 82 markets worldwide. The company plans to generate two-thirds of its revenue from smokeless product sales by 2030.

Yakova specifically mentioned the issue of recycling heating tobacco equipment. The company has launched the CIRCLE (Central Detection and Circular Economy Recycling) program to promote the recycling of electronic cigarette equipment, including IQOS devices and certain recyclable components of electronic cigarettes. The company will collaborate with local partner EcoSafe to advocate for users to return used e-cigarettes and capsules.