Water is one of the critical factors of ESG (Environment, Social, and Governance). Fresh and clean water is increasingly endangered despite being considered a plentiful renewable resource mainly due to population growth and economic activity leading to an increase in water demands and pollution.
According to United Nations, if current consumption and production patterns do not change, there will be a 40% shortfall in water supply by 2030. Companies are expected to face increased scrutiny such as limits on water withdrawal and tight regulations over their water use as global water resources face increased stress.
Groundwater is withdrawn by industries such as manufacturing, mining, oil and gas, energy and utilities, and construction. Apparel and food & beverage industries are highly dependent on groundwater through supply chains. According to Aquastat, 19% of global freshwater withdrawals come from industry and energy.
In terms of water withdrawal, the beverage and bottled mineral water sectors need to be careful because groundwater is a raw material for them. Globally, food and beverage companies face disputes with local communities over the amount of groundwater that can be withdrawn without depleting local resources.
Philip Morris International Inc (PMI) is a manufacturer and distributor of cigarettes, tobacco-related products, and other nicotine-containing products. The company markets several premia, mid-price, and low-price brands including Marlboro, Virginia Slims, L&M, Chesterfield, Bond Street, Lark, Muratti, Next, Philip Morris, Merit, and Parliament.
In 2021, Philip Morris International withdrew 3,120 thousand cubic meters of water, a decrease of 8% over 2020. For every million units of cigarettes sold 2.6 cubic meters of water were withdrawn in 2021.
The total water consumed by Philip Morris International in 2021 was 1,481 thousand cubic meters which decreased by 9% over the previous year. Water consumed is defined as water withdrawn minus the water discharged.
Philip Morris International aims to optimize 10 million cubic meters of water in its tobacco-growing areas by 2030. It also has a 2022 goal to achieve a water ratio (water withdrawn minus the water discharged) of 3.1.
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