Economy
Impact of Operations
As a global leader with operations in many countries around the world, Seda not only has a strong positive impact on our local economies where we are based, but also directly supports the economies of several substantial customer sectors across the world through the functional efficiency of our products.
The food service sector is a good example. In Europe alone, it is worth around 335 billion €, involving 1.7 million companies that employ over 8 million workers. But the value chain doesn’t end there. The food service sector's absorption value of food and beverages is estimated at around 200 billion € per year, meaning that the number of workers employed in the entire agricultural and food chain is more than 20 million. And that's just one sector!
We therefore take the social and economic responsibilities of our operations very seriously, especially where the performance of our many products for the food industry is concerned, including with respect to shelf life, food accessibility and transport efficiency. Expressing this in action, we have detailed commitments in every area from research and development to manufacturing technologies and quality control, all aiming to secure the environmental, social and economic sustainability of our customer sectors and societies.
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We have a detailed and exacting Code of Ethics which governs our business practices and the behaviour of all our employees. It is designed to ensure that we treat all stakeholders, in accordance with the principles of mutual respect, equity, fairness, honesty, legality and transparency.
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All procurement is in accordance with our Code of Ethics, requiring strict vetting of supplier practices in respect of human rights, environmental practices and compliance with anti-slavery and anti-money laundering legislation. In addition, we aim to use local or nearby suppliers whenever feasible, in line with our efforts to continually reduce our environmental footprint and support our local communities.
Our efforts have been recognized by EcoVadis, the world’s largest and most trusted provider of business sustainability ratings, thanks to our best in class performance in the area of sustainable procurement within the packaging industry, where we proudly rank in the top 1% (2021).