Altria Releases Its Inaugural Task Force on Climate-Related Financial Disclosures Report

Rhea-AI Summary

Altria Group, Inc. (NYSE:MO) has released its inaugural Task Force on Climate-related Financial Disclosures (TCFD) report, becoming the first U.S. tobacco company to join TCFD's 2,700 supporters. The report aims to provide insights on climate-related risks and opportunities, aligning with Altria's commitment to transparency. Sal Mancuso, CFO, emphasizes a science-based approach for both the tobacco industry and climate action. Altria continues to focus on reducing its environmental impact across its operations and value chain.

Positive

• First U.S. tobacco company to join TCFD, enhancing credibility.
• Commitment to transparency regarding climate-related metrics.
• Focus on reducing environmental impact in operations and the value chain.

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• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Altria Group, Inc. (“Altria”) (NYSE:MO) today announces its first standalone Task Force on Climate-related Financial Disclosures (TCFD) report. Altria is proud to be the first U.S tobacco company to join more than 2,700 supporters of the TCFD. 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. In 2017, the TCFD published final recommendations across four core elements: governance, strategy, risk management, and metrics and targets.

“Just as we believe in the benefits of a science- and evidence-based approach for our industry and tobacco harm reduction, we believe in a science-based approach for climate action,” said Sal Mancuso, Executive Vice President & Chief Financial Officer. “We also acknowledge this is our first TCFD report and expectations for Environmental, Social and Governance disclosure are rapidly changing. We intend to learn as we go while responding to this dynamic environment as we evolve our reporting in the future.”

Altria’s support for the TCFD is consistent with its commitment to transparency. This year, Altria disclosed its progress and key metrics for each of its responsibility focus areas:

• Protect the Environment
• Reducing Harm and Preventing Underage Use
• Drive Responsibility Through Our Value Chain
• Supporting Our People & Communities
• Engage & Lead Responsibly

Altria’s responsibility focus areas are guided by its materiality assessment process – a comprehensive, formal approach to identify the most impactful ESG issues that Altria believes are important to its long-term sustainability and success.

Altria has made a strong commitment to reducing its environmental impact, both in its companies' direct operations and in the value chain (from supplier to retailer).

For more information about the TCFD, please visit www.fsb-tcfd.org.

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/20211116005917/en/

Altria Client Services

Media Relations

804-484-8897

Source: Altria Group, Inc.

FAQ

What is Altria's first TCFD report about?

Altria's first TCFD report outlines its approach to climate-related financial disclosures, focusing on risks and opportunities related to climate change.

When did Altria announce its TCFD report?

Altria announced its TCFD report in a press release dated November 16, 2021.

What commitment does Altria have regarding environmental impact?

Altria is committed to reducing its environmental impact across its operations and value chain.

How does Altria plan to approach climate action?

Altria aims to adopt a science-based approach for climate action, similar to its strategy in tobacco harm reduction.

What is the significance of TCFD to Altria?

Joining TCFD signifies Altria's commitment to transparency and responsible disclosure regarding climate-related risks to investors.