1. The tobacco industry has not phased out High-Risk Products (HRPs) or transitioned smokers to Reduced-Risk Products (RRPs) quickly enough to achieve the goal of ending smoking in this generation. Performance differs by Index Company, and inconsistent progress was made over the 2019-2021 review period.

2. Index Companies continued to focus most of their RRP efforts on HMICs.

3. The majority of Index Companies have not made any commitment to tobacco harm reduction.

4. Several Index Companies regressed or made no progress over the 2019-2021 review period.

5. Over the 2019-2021 review period, a few Index Companies indicated a potential future shift in their position on RRPs. Time will tell if transformation comes to fruition.

6. There is currently limited transparency in terms of Marketing policies and Lobbying practices.

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