Seaboard Corporation

SEB:US US8115431079
Key Information
HQ:
United States
Market Cap:
$4.51bn
Primary Markets:
Africa, North America, LATAM



Company Information

Company Summary

As an integrated food company, Seaboard Foods is the third-largest US hog producer and fourth-leading pork processor. It produces and sells fresh, frozen and processed pork products to further processors, food service operators, grocery stores, retail outlets and other distributors in the US. Internationally, Seaboard Foods sells to distributors in China, Japan, Mexico and other foreign markets. Seaboard has a 50% non-controlling voting interest in Butterball, one of the largest vertically integrated producers, processors and marketers of branded and non-branded turkey products in the US. The corporation also has an integrated agricultural commodity trading and milling division focused on soybeans, wheat and other commodities.
Seaboard Corporation

Revenue

Total revenue:

$9.2bn

Revenue by Geography

Revenue by Protein

Revenue by Product Type

Note: This financial breakdown is based on Annual reports released in 2022, containing, in most cases, FY2021.


Disclosures

CDP ScoresLast Reviewed: 11/10/2023

CDP ClimateCDP ForestsCDP Water
NoNoNo

Science Based Target InitiativeLast Reviewed: 03/10/2023

Target classificationStatusDate
Has not set SBT--

Coller FAIRR Protein Producer Index

Analysis Overview

Index-Radar-2023
Greenhouse Gas Emissions Deforestation & Biodiversity Water Use & Scarcity Waste & Pollution Antibiotics Animal Welfare Working Conditions Food Safety Sustainability Governance Alternative Proteins

Analysis Breakdown

Risk Score

14/100
High Risk



Greenhouse Gas Emissions

0/100

Scope 1, 2 & 3 Target
0/100
Type of Target
0/3
Strength of Target - Non-SBT
0/2
Source(s): Annual Report 2022, page 2, 3; Seaboard Foods Sustainability Report 2021, page 4

Innovation on GHG Emission Reduction
0/100
Innovation to Reduce Agriculture Emissions
0/1
Feed Farming Innovation
0/2
Animal Farming Innovation
0/2
Source(s):

Quality of GHG Inventory
0/100
Quality and scope of GHG inventory Completeness
0/1.5
Feed & Animal Farming Emissions
0/2
Transparency of GHG Inventory
0/1.5
Source(s):

Emissions Performance
0/100
Overall Emission Performance
0/5
Source(s):

Climate-related Scenario Analysis
0/100
Climate-related Scenarios Analysis Conducted
0/1
Disclosure of Analysis Results on Material Risks
0/3
Disclosure of Financial Material Events & Alignment of CAPEX
0/1
Source(s): Annual Report 2022, page 10; Seaboard Foods Animal Care Webpage



Deforestation & Biodiversity

0/100

Deforestation/Conversion-free Target - Soy for Animal Feed
0/100
Risk Assessment to Identify High-risk Locations
0/0.5
Strength of Deforestation Commitment
0/3.25
Transparency - Progress Against Commitment
0/1.25
Source(s): Annual Report 2022, page 10, 15, 16, 18

Engagement, Monitoring & Traceability - Soy for Animal Feed
0/100
Supplier Engagement
0/1.25
Compliance monitoring & Traceability
0/3.25
Feed Innovation
0/0.5
Source(s): Annual Report 2022, page 10, 15, 16, 18



Water Use & Scarcity

3/100

Water Use & Scarcity in Facilities
4/100
Monitoring Water Consumption & Withdrawals
0.2/0.75
Target to Reduce Water Consumption & Withdrawals
0/1
Disclosure & Performance of Water Risks in Facilities
0/3.25
Source(s): Seaboard Foods Caring for our Environment Webpage; Seaboard Foods Sustainability Report 2021, page 20

Water Use & Scarcity in Feed Farming
0/100
Supplier Engagement in Water Use in Feed Farming
0/2.5
Disclosure of Water Risks in Feed Farming
0/2.5
Source(s): Annual Report 2022, page 10; Seaboard Foods Caring for our Environment Webpage

Water Use & Scarcity in Animal Farming
4/100
Supplier Engagement in Water Use in Animal Farming
0.2/3
Disclosure of Water Risks in Animal Farming
0/2
Source(s): Seaboard Foods Caring for our Environment Webpage



Waste & Pollution

5/100

Wastewater at Facilities
8/100
Disclosure & Targets for Wastewater Quality & Volume Discharged
0/1.5
Transparency on Water Pollution Risks
0/2
Performance on Wastewater Quality & Volume Discharged
0.4/1.5
Source(s): Seaboard Foods Caring for our Environment Webpage; Seaboard Foods Our Connected System Webpage

Nutrient Management in Feed Farming
0/100
Supplier Engagement in Nutrient Pollution Risks
0/4
Innovation to Improve Nutrient Management in Feed Farming
0/1
Source(s): Seaboard Foods Caring for our Environment Webpage

Manure Management in Animal Farming
6/100
Disclosure of Pollution Risks from Manure
0.28/1.25
Supplier Engagement in Manure Management
0/1.5
Innovation to Improve Nutrient Management in Animal Farming
0/2.25
Source(s): Annual Report 2022, page 20; Seaboard Foods Caring for our Environment Webpage; Seaboard Foods Sustainability Report 2021, page 21



Antibiotics

35/100

Policy on Antibiotics Use
55/100
Policy on Antibiotics Use
2.75/5
Source(s): Seaboard Foods Antibiotic Use at Seaboard Foods Webpage

Disclosure of Quantity of Antibiotics Used
15/100
Disclosure of Quantity of Antibiotics Used
0.75/5
Source(s): Butterball Stance on Antibiotics Webpage; Seaboard Foods Antibiotic Use at Seaboard Foods Webpage



Animal Welfare

8/100

Animal Welfare Policy
14/100
Welfare Policy
0.7/2
Key Welfare Issues
0/3
Source(s): Seaboard Foods Animal Care Webpage; Seaboard Foods Our Connected System Webpage; Seaboard Foods Sustainability Report 2021, page 18; Seaboard Foods Zero Tolerance Policy Webpage; USDA Process Verified

Assurance & Certification
10/100
Auditing & Assurance by an Animal Welfare Organisation
0.5/4
Public Reporting on Welfare
0/1
Source(s): Seaboard Foods Animal Care Webpage

Performance on Key Material Risks
0/100
Performance on Key Material Welfare Risks by Protein
0/5
Source(s): Seaboard foods Herd Health and Biosecurity Webpage



Working Conditions

24/100

Human Rights
0/100
Strength of Policy
0/1
Due Diligence Process
0/3
Evidence of Remediation
0/1
Source(s): Seaboard Foods Code of Conduct 2021, page 3, 4

Fair Working Conditions
36/100
Policy for Direct Operations
1.28/3
Monitoring & Discosure
0.5/2
Source(s): California Transparency in Supply Chains Act Webpage; Code of Conduct and Ethics for Senior Financial Officers 2018; Code of Ethics Policy 2018 Webpage; Seaboard Foods Code of Conduct 2021, page 3, 4; The Butterball way Corporate Social Responsibility Report 2021, page 42

Safety & Turnover Data
19/100
Committee representation of workers
0.24/2
Disclosure of safety and turnover data
0.7/3
Source(s): 2021-Seaboard-Foods-Sustainability-Report-For-Web.pdf, page 7; Annual Report 2022, page 5; Annual Report 2022 FORM-ARS-12-31-22-1-1.pdf, page 5; Seaboard Foods Sustainability Report 2020, page 10; Seaboard Foods Sustainability Report 2021, page 10; The Butterball Way Corporate Social Responsibility Report 2020, page 30; The Butterball way Corporate Social Responsibility Report 2021, page 40

Freedom of Association
41/100
Strength of Policies
1/3
Disclosure of Collective Bargaining Metrics
1.05/2
Source(s): 2021-Seaboard-Foods-Sustainability-Report-For-Web.pdf, page 4, 6; Annual Report 2022, page 3, 5; Seaboard Foods Code of Conduct 2021, page 3



Food Safety

38/100

Food Safety System
20/100
Certifications
1/3.5
Performance
0/1.5
Source(s): Seaboard Foods Sustainability Report 2021, page 22; Seaboard foods Our Commitment to Food Safety & Quality Webpage; USDA Process Verified

Product Recalls & Market Bans
55/100
Product Recall Systems
2.25/3
Performance
0.5/2
Source(s): Annual Report 2022, page 9, 10; Food Safety and Inspection Service Webpage; Seaboard Foods Sustainability Report 2021, page 22; The Butterball way Corporate Social Responsibility Report 2021, page 43



Sustainability Governance

10/100

Assessment of a Company's Sustainability Governance
10/100
Board Sustainability
0.5/2
Incentives & Policy Engagement
0/2.5
Innovation & Benchmarking
0/0.5
Source(s): Annual Report 2022 FORM-ARS-12-31-22-1-1.pdf, page 8, 15; The Butterball way Corporate Social Responsibility Report 2021, page 26



Alternative Proteins

0/100

Diversification of Products to Alternative Protein Sources
0/100
Existing product portfolio
0/2.5
Investing for future growth
0/2.5
Source(s):

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Waste & Pollution Engagement

Analysis Overview

Waste-Pollution-Radar
Risk Assessment Value Chain Coverage Risk Mitigation Circularity Company Engagement

Analysis Breakdown




Risk Assessment

Poor
Coverage of water quality risk assessment
Transparency and disclosure of water quality indicators
Recognition of nutrient pollution risk on biodiversity



Value Chain Coverage

Poor
Inclusion of upstream feed and livestock suppliers in risk assessment
Downstream use of manure by animal feed suppliers
Acknowledgment of regulatory risks
Transparency on non-compliance from suppliers



Risk Mitigation

Poor
Biogas generation and organic fertilisers from animal waste
Target-setting for water quality
Support to third-party suppliers



Circularity

Poor
Pilot projects around nutrient circularity
Disclosure of investment in circular solutions
Targets to increase share of manure under circular initiatives



Company Engagement

Poor
Level of company engagement with the coalition

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