The global tobacco industry is increasingly addressing environmental, social and governance issues, strengthening the harm reduction narrative and increasing investment in sustainability initiatives in response to increasing pressure from consumers, investors and legislators.
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The tobacco industry is embracing environmental, social and governance (ESG) factors when making business decisions to attract investors and consumers, comply with legislation and gain competitive advantage. The development of environment and social interest initiatives is expected to continue, encouraged by increasing pressure from key stakeholders.
ESG is here to stay, as reflected in planned corporate investments across all areas, with the expansion of reduced risk products (RRP) products, the development of more sustainable products and tackling product waste being top of mind for businesses.
An increasing number of investors in tobacco are engaging more with tobacco companies as a means of accelerating industry transition towards a more sustainable future built on ESG initiatives and reporting.
With tobacco users showing a commitment to environmental initiatives, but also being increasingly price sensitive, tobacco players are struggling to pass the cost of compliance with sustainability measures on to consumers.
To meet growing consumer demand for sustainability, tobacco companies are undertaking environmental initiatives and expanding their sustainable product portfolios, although strict restrictions on promotion and advertising make it difficult to communicate them to stakeholders.
Passport Tobacco covers the seven major tobacco categories: Cigarettes, Cigars & Cigarillos, Smoking tobacco (made up of Pipe tobacco and RYO tobacco), Smokeless Tobacco (snuff and chewing tobacco), E-Vapour Products (closed and open); Heated Tobacco; and Tobacco Free Oral Nicotine. Smoking paraphernalia such as pipes, rolling papers, lighters or matches, etc., are not included, nor are nicotine replacement therapy (NRT) products, which are part of Euromonitor's Passport Consumer Healthcare database.
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