This morning, Philip Morris International held its annual shareholders meeting. Here’s our statement in response:
For all its talk of transformation, Philip Morris International (PMI) continues to make the bulk of its profits from cigarettes while expanding Marlboro sales around the world. The company’s own filings show that Marlboro remains the core infrastructure of its business model — driving revenue, shaping markets, and sustaining nicotine dependence at scale.
Meanwhile, PMI waxes poetic about a so-called smoke-free future, advancing products like vapes and nicotine pouches that do not eliminate the harms associated with nicotine addiction — much like the industry once did with filters and “light” cigarettes.
Investors choosing to stand by PMI should be clear about what they are funding: a business model built on addiction, disease, and death. Around the world, communities and advocates are organizing to hold PMI accountable and make Big Tobacco pay for the harms it continues to cause.
