Science Based Targets initiative commends 1.5°C-aligned target, currently the highest designation available
RICHMOND, Va.--(BUSINESS WIRE)-- Altria Group, Inc. (“Altria”) (NYSE:MO) today announced that its greenhouse gas emissions reduction targets have been approved for the first time by the Science Based Targets initiative (SBTi). The Scope 1 and 2 target covering greenhouse gas emissions from Altria’s operations is consistent with reductions required to keep warming to 1.5°C, a goal that the latest climate science says is needed to prevent the most damaging effects of climate change. The Scope 3 target meets the criteria for ambitious value chain goals and current best practice.
“We believe it’s important to continually work to address important social and environmental challenges,” said Jennifer Hunter, Senior Vice President, Corporate Citizenship. “This is why we’ve set a higher bar and reset our long-term goals, including achieving 100% renewable electricity by 2030, 100% water neutrality annually, and aligning our business with the most ambitious greenhouse gas emissions reduction targets designated by the SBTi.”
In addition to SBTi approval, for the third year in a row Altria has been named to CDP’s Water A-List, among only 2% of disclosing global companies in 2019, and is recognized on CDP’s 2019 Climate Change survey as a global leader for engagement with suppliers on climate change.
Over 900 companies have committed to the SBTi, and just over 400 have SBTi-approved targets. SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.
Altria’s recently released 2019 Corporate Responsibility Progress Report details the company’s continued progress on these environmental goals and on Altria’s four responsibility priorities: reducing the harm of tobacco products, including preventing underage tobacco use; marketing responsibly; managing our supply chain responsibly; and developing our employees and culture.
Altria’s Profile
Altria’s wholly owned subsidiaries include Philip Morris USA Inc. (PM USA), U.S. Smokeless Tobacco Company LLC (USSTC), John Middleton Co. (Middleton), Sherman Group Holdings, LLC and its subsidiaries (Nat Sherman), Ste. Michelle Wine Estates Ltd. (Ste. Michelle) and Philip Morris Capital Corporation (PMCC). Altria owns an 80% interest in Helix Innovations LLC (Helix). Altria holds equity investments in AnheuserBusch InBev SA/NV (ABI), JUUL Labs, Inc. (JUUL) and Cronos Group Inc. (Cronos).
The brand portfolios of Altria’s tobacco operating companies include Marlboro®, Black & Mild®, Copenhagen®, Skoal® and on!®. Ste. Michelle produces and markets premium wines sold under various labels, including Chateau Ste. Michelle®, 14 Hands® and Stag’s Leap Wine Cellars™, and it imports and markets Antinori®, Champagne Nicolas Feuillatte™ and Villa Maria Estate™ products in the United States. Trademarks and service marks related to Altria referenced in this release are the property of Altria or its subsidiaries or are used with permission.
More information about Altria is available at altria.com and on the Altria Investor app, or follow Altria on Twitter, Facebook and LinkedIn.
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Source: Altria Group, Inc.