In one of the most ambitious pitches in the cigarette industry’s history, Philip Morris International is making a play for ethical investors. At a shareholder event Wednesday, the tobacco giant set a new target to make more than 50% of group revenues from smokeless products like its IQOS heated-tobacco sticks by 2025, up from 24% today. The company, which sells the Marlboro brand outside the U.S., will also move into goods that contain no nicotine at all, such as botanicals to aid sleep or products that can deliver medicine through the respiratory system.