From the SEE(R) Impact Report: Enabling a Circular Economy

NORTHAMPTON, MA / ACCESSWIRE / December 5, 2023 / SEE

Originally published in the SEE Impact Report 2022

SEE (formerly Sealed Air) drives efforts and collaboration across the value chain for circular business models that support the creation of solutions that can recover and recycle materials. Through these actions, SEE contributes to consumer waste diversion efforts and the supply of material for future reuse, including the company's own use of recycled content.

2025 Sustainability and Materials Pledge

By 2025, SEE commits to design or advance 100% of its packaging solutions to be recyclable or reusable, eliminate waste by incorporating an average of 50% recycled or renewable content into our solutions, and collaborate on recycling technology and infrastructure.

In 2022, solutions designed for recyclability or reusability accounted for approximately 51.5% of the material weight sold. Recycled or renewable content accounted for 17.3% of the material weight sold. In 2022, net sales generated from products defined as recyclable, designed for recyclability, or reusable were $1.9 billion.

Modification of Our 2025 Sustainability and Materials Pledge

SEE is committed to leading the charge in designing innovative sustainable packaging solutions and enabling the circularity that our customers, channel partners, and consumers demand. SEE has made great progress to advance or design more than 51% of its portfolio to be recyclable or reusable and to incorporate an average of 17% recycled or renewable content into our solutions. We are now forecasting that both the market demand and the material supply to achieve our pledge are taking longer than anticipated. This is due in large part to the slowed development of the necessary infrastructure for recycling of flexible plastics and the availability of food-grade recyclate that meets customer requirements for price and performance. For this reason, we are assessing our current pledge status in preparation for revising our stated objectives.

Materials and Certification

Raw Materials

Suppliers provide raw materials, packaging components, contract manufactured goods, equipment, and other direct materials such as inks, films, and paper. Our principal raw materials are polyolefin and other petrochemical-based resins, as well as fiber-based materials. Raw materials typically represent approximately one-third of our consolidated cost of sales. We also purchase corrugated materials, cores for rolls of products such as films and BUBBLE WRAP brand cushioning, inks for printed materials, and blowing agents used in the expansion of foam packaging products.

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Morgan Stanley

 

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