CHARLOTTE, NC / ACCESSWIRE / January 25, 2023 / Based on its environmental disclosures, Sealed Air (NYSE:SEE) recently received an A- score from CDP for its climate change efforts.
Sealed Air has been awarded an A or A- for its work to reduce greenhouse gas emissions for the last nine years consecutively and has previously been recognized by CDP as a Supplier Engagement Leader. The company has earned a B for its water security efforts for the past three years. CDP, a voluntary reporting framework, scores companies based on environmental impacts, risks, opportunities, and actions. Scores range from A to D-.
To manage and reduce greenhouse gas emissions associated with its operations and mitigate the negative impacts of climate change, Sealed Air is developing a strategy that includes building a technical roadmap for its transition to net-zero carbon dioxide emissions by 2040. The roadmap will inform actions taken to reduce energy consumption, increase operational efficiencies, and install renewable energy sources such as the solar farm now powering Sealed Air's manufacturing facility in Madera, California. Progress on the company's climate goals are outlined in its Global Impact Report.
"We are committed to climate and have put practices in place to collect data and understand opportunities to improve," said Myra Hughes Foster, Sealed Air's Executive Director of Sustainability Strategy and Advocacy. "By having a holistic approach to our climate strategy-which is not just about hitting a number but instead is about changing the way we run our operations-we've positioned ourselves to be able to maintain A and A- CDP scores even though the criteria is getting more stringent each year. Our scores reflect our intentionality."
In its latest disclosure, Sealed Air shared emissions reduction initiatives such as upgrading compressed air systems, installing power controllers, and optimizing heating processes, all of which reduce the use of electricity. By disclosing through CDP, Sealed Air is prepared to respond to the increasing demand for environmental transparency from financial institutions, customers, and policymakers
Nearly 20,000 organizations worldwide disclosed data through CDP in 2022, including more than 18,700 companies worth half of global market capitalization, and more than 1,100 cities, states and regions.
About Sealed Air
Sealed Air (NYSE:SEE) is in business to protect, solve critical packaging challenges, and make our world better than we find it. Our automated packaging solutions promote a safer, more resilient, and less wasteful global food, fluids and liquids supply chain, enable e-commerce, and protect goods transported worldwide.
Our globally recognized brands include CRYOVAC® brand food packaging, SEALED AIR® brand protective packaging, AUTOBAG® brand automated systems, BUBBLE WRAP® brand packaging, SEEAutomation solutions and prismiq smart packaging and digital printing.
SEE's Operating Model, together with our industry-leading expertise in materials, engineering and technology, create value through more sustainable, automated, and digitally connected packaging solutions.
We are leading the packaging industry in creating a more environmentally, socially, and economically sustainable future and have pledged to design or advance 100% of our packaging materials to be recyclable or reusable by 2025, with a bolder goal to reach net-zero carbon emissions in our global operations by 2040. Our Global Impact Report highlights how we are shaping the future of the packaging industry. We are committed to a diverse workforce and caring, inclusive culture through our2025 Diversity, Equity and Inclusion pledge.
SEE generated $5.5 billion in sales in 2021 and has approximately 16,500 employees who serve customers in 114 countries/territories. To learn more, visit sealedair.com.
CDP is a global nonprofit that runs the world's environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 680 financial institutions with over $130 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition and results of operations. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as "anticipate," "believe," "plan," "assume," "could," "should," "estimate," "expect," "intend," "potential," "seek," "predict," "may," "will" and similar references to future periods. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, expectations regarding the results of restructuring and other programs, anticipated levels of capital expenditures and expectations of the effect on our financial condition of claims, litigation, environmental costs, contingent liabilities and governmental and regulatory investigations and proceedings. The following are important factors that we believe could cause actual results to differ materially from those in our forward-looking statements: global economic and political conditions, currency translation and devaluation effects, changes in raw material pricing and availability, competitive conditions, the success of new product offerings, consumer preferences, the effects of animal and food-related health issues, the effects of epidemics or pandemics, including the Coronavirus Disease 2019, negative impacts related to the ongoing conflicts between Russia and Ukraine and related sanctions, export restrictions and other counteractions thereto, changes in energy costs, environmental matters, the success of our restructuring activities, the success of our merger, acquisition and equity investment strategies, the success of our financial growth, profitability, cash generation and manufacturing strategies and our cost reduction and productivity efforts, changes in our credit ratings, the tax benefit associated with the Settlement agreement (as defined in our most recent Annual Report on Form 10-K), regulatory actions and legal matters, and the other information referenced in the "Risk Factors" section appearing in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, and as revised and updated by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement made by us is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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Myra Hughes Foster, Sealed Air's Executive Director of Sustainability Strategy and Advocacy
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Spokesperson: Sealed Air
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