Altria Once Again Achieved a Double ';A' Rating in Climate and Water Protection

Rhea-AI Summary

Altria Group, Inc. (NYSE:MO) has received a double ‘A’ rating from CDP for the second consecutive year, recognizing its efforts in combating climate change and ensuring water security. This rating reflects Altria's commitment to reducing its environmental impact with ambitious targets, including a 55% reduction in Scope 1 & 2 emissions by 2030, achieving 100% renewable electricity, and maintaining water neutrality. The company also published its first standalone TCFD report, becoming the first U.S. tobacco company to support the TCFD.

Positive

• Recognized with a double ‘A’ rating from CDP for climate change and water security efforts.
• Established long-term environmental targets, including 55% reduction in Scope 1 & 2 emissions by 2030.
• Published first standalone TCFD report to disclose climate-related risks and opportunities.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Altria Group, Inc. (“Altria”) (NYSE:MO) today announces that it has been recognized for a second consecutive year with a double ‘A’ rating for tackling climate change and protecting water security by CDP, a non-profit that runs a global disclosure system on managing environmental impact. CDP’s A List distinguishes companies for leadership on transparency and action on key environmental issues.

“We are committed to conserving the natural resources on which our businesses and communities rely,” said Jennifer Hunter, Senior Vice President, Corporate Citizenship. “As the latest science makes clear, the global community needs to quickly increase the ambition and progress of environmental targets, build climate resilient businesses and prepare for the net zero economy. Altria is committed to doing our part.”

In 2020, Altria announced its long-term 2030 targets from a 2017 baseline to:

• Reduce absolute Scope 1 & Scope 2 emissions by 55%
• Reduce absolute Scope 3 emissions by 18%
• Achieve 100% renewable electricity
• Reduce waste sent to landfill by 25%
• Achieve 100% water neutrality each year

Altria has made a strong commitment to reducing its environmental impact, both in aligning operational and value chain business practices with science-based methodology to limit the damaging impacts of climate change and in reducing the environmental impact of using its companies’ products.

Aligned with Altria’s disclosure on climate-related risks and opportunities in CDP Climate Change, this year, Altria also published its first standalone Task Force on Climate-related Financial Disclosures (TCFD) report. The TCFD was formed by the Financial Stability Board in 2015 to help companies provide decision-useful information about their climate-related risks and opportunities to investors. Altria is proud to be the first U.S tobacco company to join more than 2,700 supporters of the TCFD.

CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. A detailed and independent methodology is used, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are marked with an F.

For more information about the CDP, please visit http://www.cdp.net/en/companies/companies-scores.

Altria’s Profile

Altria has a leading portfolio of tobacco products for U.S. tobacco consumers age 21+. Altria’s Vision by 2030 is to responsibly lead the transition of adult smokers to a smoke-free future (Vision). Altria is Moving Beyond Smoking™, leading the way in moving adult smokers away from cigarettes by taking action to transition millions to potentially less harmful choices - believing it is a substantial opportunity for adult tobacco consumers, Altria’s businesses and society.

Altria’s wholly owned subsidiaries include the most profitable tobacco companies in their categories: Philip Morris USA Inc. (PM USA), U.S. Smokeless Tobacco Company LLC (USSTC) and John Middleton Co. (Middleton). Altria’s smoke-free portfolio includes Helix Innovations LLC (Helix), the maker of on! oral nicotine pouches, exclusive U.S. commercialization rights to the IQOS Tobacco Heating System® and Marlboro HeatSticks®, and an equity investment in JUUL Labs, Inc. (JUUL).

Altria also owns equity investments in Anheuser-Busch InBev SA/NV (ABI), the world’s largest brewer, and Cronos Group Inc. (Cronos), a leading Canadian cannabinoid company.

The brand portfolios of Altria’s tobacco operating companies include Marlboro®, Black & Mild®, Copenhagen®, Skoal® and on!®. Trademarks and service marks related to Altria referenced in this release are the property of Altria or its subsidiaries or are used with permission.

Learn more about Altria at www.altria.com and follow us on Twitter, Facebook and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211207005786/en/

Altria Client Services

Media Relations

804-484-8897

Source: Altria Group, Inc.

FAQ

What is the recent CDP rating received by Altria Group?

Altria Group received a double ‘A’ rating from CDP for its efforts in climate change and water security.

What are Altria's environmental targets for 2030?

Altria aims to reduce Scope 1 & 2 emissions by 55%, achieve 100% renewable electricity, and maintain water neutrality.

What is the significance of the TCFD report published by Altria?

The TCFD report provides transparency on Altria's climate-related risks and opportunities, marking it as the first U.S. tobacco company to support the TCFD.

How does the CDP rate companies on environmental performance?

CDP rates companies from A to D- based on disclosure comprehensiveness, management of environmental risks, and leadership practices.

How can I learn more about Altria Group's environmental initiatives?

You can visit Altria's official website or view their reports on environmental initiatives and goals.