Philip Morris International Bulgaria has invested more than $12.5 billion in developing smoke-free alternatives. Two-thirds of revenues are expected to come from such products by 2030. At the same time, the company has set a goal of becoming carbon neutral in its business operations by 2025 and its entire value chain by 2040.
As Business.DIR.BG reported on October 23, that Dilyana Yakova, head of legal regulation and sustainability at Philip & Philip International Bulgaria, promised on the podcast What Money Can Do The plan is to achieve carbon neutrality in Scope 1 and 2 business operations and manufacturing by 2025, and the entire value chain by 2040.
Since 2009, the company has invested more than $12.5 billion in research and development and production of smoke-free alternatives that can reduce injuries to customers. The research and analysis process for these smoke-free alternatives is similar to that of pharmaceuticals and pharmaceutical products. With these smokeless products, 90-95% of the harmful emissions formed by traditional tobacco products can be effectively reduced.
In 2023, 36% of the company’s net revenue came from the sale of heated tobacco products, which are now sold in 82 markets worldwide. By 2030, the company plans to generate two-thirds of its revenue from the sale of smoke-free goods.
Yakova specifically mentioned the recycling of heated tobacco equipment. To facilitate the recycling of vape devices, including IQOS devices and some recyclable components of vapes, the company has launched the CIRCLE(Central Detection and Circular Economy Recycling) program. The company will work with local partner EcoSafe to advocate for customers to return used vapes and capsules.
