Seaboard Corporation
SEB:US US8115431079
Key Information
HQ:
United States
Market Cap:
$2.92bn
Primary Markets:
Africa, North America, LATAM
Waste & Pollution Engagement
Analysis Overview
Risk Assessment Value Chain Coverage Risk Mitigation Circularity Company Engagement
Summary
The company has not engaged with the investor signatories and has not progressed in any of the areas included in the engagement.
Analysis Breakdown
Risk Assessment
Poor
Coverage of water quality risk assessment
The company does not disclose undertaking an assessment.
The company does not identify processing facilities that operate in locations with high and medium water stress, from a quality perspective.
Transparency and disclosure of water quality indicators
The company does not disclose wastewater quality metrics for any of the wastewater it discharges.
The company does not disclose the number of incidences of non-compliance with water quality permits, standards, and regulations.
Recognition of nutrient pollution risk on biodiversity
The company does not mention 'biodiversity' or 'water quality' within its annual report or sustainability highlights.
Value Chain Coverage
Poor
Inclusion of upstream feed and livestock suppliers in risk assessment
The company does not disclose undertaking a formal risk assessment of nutrient pollution risk around farms. It discloses that it undertakes farm mapping surveys utilising internal and external resources to identify environmental threats that exist in neighbouring fields, however this seems to be in the context of spreading effluents.
Feed is not discussed as part of the company's assessment of its exposure to areas of medium or high water risk or biodiversity risk.
Downstream use of manure by animal feed suppliers
The company discloses that it applies effluent to neighbouring crop fields, but it is unclear if any crops are used in the company's feed supply.
Acknowledgment of regulatory risks
The company mentions that changing laws and regulations are a risk to the business. However, it does not refer to changing nutrient/pollution regulation explicitly.
Transparency on non-compliance from suppliers
The company states that it follows local and state environmental laws to maintain levels of our lagoons and apply the effluent to neighbouring crop fields. However, no further detail is provided, and it is not clear on the level of monitoring the company undertakes of its livestock suppliers.
The company does not disclose the number of incidences of non-compliance with water quality permits, standards, and regulations.
Risk Mitigation
Poor
Biogas generation and organic fertilisers from animal waste
Seaboard does not disclose the volume of wastewater it produces. It states that effluent from lagoons is applied to neighbouring fields. It also states that it uses 'multiple systems to handle and process biological waste in a safe and efficient manner' but does not provide more detail.
The company states that it provided 1.5 million lb of Nitrogen fertiliser to local farmers. However, it is unclear the company does not detail treatment methods. The company states that it is constructing renewable natural gas sites with its integrated model of hog operations, covered anaerobic digester lagoons and biomethane upgrading facilities at certain of its existing hog farms in Texas, Oklahoma and Kansas, with a few sites complete and in early stages of operations. The company produced biodiesel at facilities in Oklahoma and Missouri, and renewable diesel at a facility in Kansas. Seaboard discloses that these are both produced from pork fat supplied by the pork processing plants and other animal fats and vegetable oils purchased from third parties.
It is not clear from the company's disclosure if it supports contracted farmers in biogas capture, or if the investments described above are only made to owned operations.
Target-setting for water quality
The company does not disclose that it identifies areas of high or medium water risk. Nor does it disclose site specific plans for nutrient management.
Support to third-party suppliers
The company undertakes farm mapping to understand the environmental pressures of neighbouring fields before the application of effluents and manure. Seaboard states that it partners with local farmers to provide natural fertiliser and organic matter for their crop fields. However, it is unclear what processes are in place to support farmers.
Circularity
Poor
Pilot projects around nutrient circularity
The company does not disclose information on pilots or research into circular solutions to waste other than biogas recovery.
Disclosure of investment in circular solutions
The company does not disclose information.
Targets to increase share of manure under circular initiatives
The company does not disclose information.
Company Engagement
Poor
Level of company engagement with the coalition
The company did not engage with the investor signatories.
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Workstream Information
2024/25 level
Poor
Index Waste & Pollution Score:
5/100
Assessed Proteins:
Pork
Last Updated:
26 June 2024
2024/25 Resources
Phase 3 | Investor Briefing Pack Waste & Pollution Engagement