Siegwerk achieves Silver EcoVadis Medal

It continues to advance its mission to achieve sustainability targets by 2025

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Siegwerk has achieved Silver EcoVadis Medal
Siegwerk has achieved Silver EcoVadis Medal

Siegwerk, one of the leading global providers of printing inks and coatings for packaging applications and labels, has received the EcoVadis Silver Medal rating across all business units and regions. Siegwerk’s overall score is considered in the top 15% of companies manufacturing paints, varnishes and similar coatings, printing ink and mastics industry. This puts Siegwerk in a leading position with regard to sustainable business practices and solutions across the inks and coatings industry.

EcoVadis, with over 90,000 rated companies in its network, is the most trusted independent provider of business sustainability ratings. Given its prestige and reputation among suppliers and customers, a silver rating is an achievement for Siegwerk. The EcoVadis methodology is built on international sustainability standards, including the Global Reporting Initiative, the United Nations Global Compact and the ISO2600, covering 200 industries and more than 160 countries.

The EcoVadis assessment notes a particular strength in the company’s environmental performance. This is driven by the company’s strong sustainability management systems, emissions reduction targets, and circular packaging solutions developed and sold in the market.

Siegwerk’s sustainable approach toward the inks and coatings industry

The rating reflects the ambition Siegwerk sets in its 2025 sustainability initiative HorizonNow. By 2025, seven ambitious targets will be achieved, including carbon-neutral scope 1 and 2 emissions and 75% of sales from products and services enabling circular packaging. HorizonNow, with its clear targets, is aligned with the UN Sustainable Development Goals. Therefore, Siegwerk regards the EcoVadis score as an important benchmark to continue building on.

“The Silver Medal is a testimony to the effort and focus we have put on building a leading role in the realm of sustainable business practices in the inks and coatings industry. And we are proud of what the organization has achieved while still striving for ever-increasing sustainability in our operations and with our up- and downstream value chain partners,” said Alina Marm, company’s global head of Sustainability and Circular Economy.

Packaging South Asia — resilient, growing and impactful — daily, monthly — always responsive

The multi-channel B2B in print and digital 17-year-old platform matches the industry’s growth trajectory. The Indian, South Asian, Southeast Asian, and Middle East packaging industries are looking beyond the resilience of the past three years. They are resuming capacity expansion and diversification, with high technology and automation in new plants and projects.

As we present our 2024 publishing plan, India’s real GDP growth for the financial year ending 31 March 2024 will exceed 6%. The packaging industry growth will match the GDP growth in volume terms and surpass it by at least 3% in terms of nominal growth allowing for price inflation in energy, raw materials, consumables, and capital equipment.

The capacity for flexible film manufacturing in India increased by 45% over the past four years. With orders in place, we expect another 20% capacity addition in 2024 and 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels are grown similarly. As the consumption story returns over the next six months, we expect demand to return and exceed the growth trajectory of previous years. The numbers are positive for most of the economies in the region – and as shown by our analytics, our platform increasingly reaches and influences these.

For responsible and sustainable packaging, with its attendant regulations and compliances, there is significant headroom to grow in India and the region. Our coverage includes the entire packaging supply chain – from concept to shelf and to waste collection, sorting, and recycling.

We target brand owners, product managers, raw material suppliers, packaging designers and converters, and recyclers. This is a large and complex canvas – the only thing that can work is your agile thinking and innovation together with our continuous learning and persistence.

The coming year looks to be an up year in this region, and this is the right time to plan your participation and marketing communication – in our rich and highly targeted business platform with human resources on the ground. Share your thoughts and plans to inspire and mobilize our editorial and advertising teams!

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– Naresh Khanna (25 October 2023)

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