Asia Symbol continues to strengthen responsible wood and pulp sourcing

(22 April 2026)

Asia Symbol refers to the reports published by AFP in partnership with The Gecko Project titled "Indonesia orangutan forest cleared for 'carbon-neutral' packaging firm" and “Pharma giant drops supplier after AFP deforestation investigation” published on 22 April 2026. Asia Symbol responded in writing to AFP/The Gecko Project on 12 March and 26 March 2026. We are publishing this statement as a public record to set out key facts and the actions we are taking.

Asia Symbol is committed to no-deforestation and to sourcing our wood and pulp supply from responsibly managed forests as set out in our Wood and Pulp Sourcing Policy. The requirements of this policy are aligned with the European Union Deforestation Regulation (EUDR), Forest Stewardship Council (FSC) and the Accountability Framework Initiative (AFI), including on no-deforestation and supply chain engagement.

Implementing this policy, especially in multiple countries and across direct suppliers, traders and thousands of upstream producers and smallholders, requires a continuously strengthened due diligence and monitoring system.

Key facts

• • Sourcing related to PT Phoenix Resources International (PRI) has been under focused review following our strengthened due diligence process.
• • The carbon-neutral product claim referenced in the AFP report is verified by SGS against ISO 14068-1:2023.
• • RGE has publicly stated, and reiterates, that it does not own or control PRI or PT Industrial Forest Plantation.
• • We have been strengthening our end-to-end Due Diligence System (DDS), with key enhancements formalised in January 2026. These include alignment with the EUDR and AFi standards.

Sourcing related to PT Phoenix Resources International is under focused review

Asia Symbol began sourcing bleached Chemi-ThermoMechanical Pulp from PRI in January 2025, via intermediary traders. Following our strengthened DDS, sourcing related to PRI has been placed under focused review. We are engaging PRI and relevant upstream suppliers on the adoption of global no-deforestation commitments and any follow-up actions required by our policy framework.

Carbon-neutral product claim verified by SGS

The carbon-neutral product claim referenced in the AFP/The Gecko report is verified by SGS against ISO 14068-1:2023, which sets out the requirements, scope and criteria for how products can be certified as carbon neutral.

RGE does not own or control PT Phoenix Resources International

AFP / The Gecko Project repeat allegations regarding RGE’s relationship with PRI. RGE has publicly stated that it does not own or control PRI or PT Industrial Forest Plantation.

We continue to strengthen due diligence across multi-country, multi-tier supply chains

Asia Symbol has continued to strengthen its end-to-end Due Diligence System (DDS) across our supply chain, aligning it with global regulation and standards on no-deforestation, including the EUDR, FSC, and AFi. This work has been supported by independent expertise and formalised in a new Wood and Pulp Due Diligence Manual effective January 2026.

Key enhancements include:

• • mapping and gap analysis completed in June 2025
• • strengthened procedures for information gathering, risk assessment and risk mitigation for both woodchips and pulp
• • localisation of implementation by geography
• • supplier engagement, education and capacity building to improve compliance and traceability
• • escalation measures where needed, including suspension of supply from PT Balikpapan Chip Lestari (BCL) in December 2025 and focused review of sourcing related to PT Phoenix Resources International (PRI)

Long-term progress requires continuous improvements to due diligence and supplier engagement

In addition to risk assessment and mitigation, Asia Symbol’s enhanced DDS supports supplier engagement and capacity building as we work to raise upstream sustainability practices. Where breaches occur, our policy provides for constructive engagement with suppliers to resolve issues, prevent recurrence, and where appropriate, support corrective and remedy actions.

Certification is one part of a broader due diligence approach

Our policy draws guidance from global certification standards such as the Programme for the Endorsement of Forest Certification (PEFC) and the FSC. In addition to certification, our due diligence framework and processes also cover traceability, risk assessment, verification, and actions to address any cases of non-compliance.

The October 2024 remarks on CNBC reflected the company’s commitment to no-deforestation

Our public statements, including the remarks made in October 2024, reflect the company’s commitment to achieving no-deforestation across our supply chains. They speak to the company’s continuing efforts to improve our systems and processes, and to address any compliance issues when they arise.

Our commitment

Asia Symbol remains committed to transparency, continuous improvement, and strengthening the systems and safeguards that support supply chain integrity and uphold our no-deforestation commitment.

Corporate Communications

Asia Symbol

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Asia Symbol Statement on Supplier PT BCL Deforestation Claims

(12 December 2025)

Asia Symbol has ceased any new supply from wood chip supplier, PT Balikpapan Chip Lestari (BCL), following claims that two suppliers to BCL had converted forest areas into plantations in their licensed concessions in East Kalimantan between 2020 and 2024. The claims were related to BCL supplier, PT. Sendawar Adhi Karya (SAK) and PT. Bakayan Jaya Abadi (BJA).

Asia Symbol is committed to no-deforestation and all suppliers are required to uphold this commitment. We take seriously any issues of non-compliance with our wood sourcing and sustainability policies.

In a separate instance in 2023, we had already required PT BCL to suspend supply from a non-compliant supplier, PT Industrial Forest Plantation (PT IFP). That suspension has remained in place since.

We are further tightening our wood supply due diligence and compliance systems to ensure they are rigorously applied. We will work with our fiber and pulp suppliers to ensure all have a no-deforestation policy in place.

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Wood and Pulp Sourcing Policy

Asia Symbol is committed to sustainable development and upholds our business philosophy that doing what is “Good for the Country, Good for the Community, Good for the Climate, Good for the Customer, and Good for the Company”.

Acknowledging the critical importance of forests and natural ecosystems in combating climate change, protecting and enriching biodiversity and natural resources, and sustaining community livelihoods, Asia Symbol is firmly committed to eliminate deforestation¹ and conversion² in our operations and supply chain.

We reiterate our commitment to sourcing all wood chips and pulp (together "fibre") only from responsibly managed forests. We will follow all applicable national laws to only source legal fibre from supply chains with known origin.

This policy aligns with the principles and guidelines laid out in the United Nations (UN) Global Compact, the UN Guiding Principles for Business and Human Rights, the International Bill on Human Rights, and the International Labour Organization (ILO) fundamental conventions.

This policy applies to Asia Symbol’s own operations, including those of our subsidiaries, mills, and all third-party fibre suppliers. It is implemented through a fibre sourcing due diligence system, to evaluate and mitigate risks, and avoid material from unacceptable sources.

1. We commit to obtaining raw materials from low-risk sources which exclude these unacceptable categories:

• • fibre that is illegally harvested or illegally traded;
• • fibre harvested in violation of customary, traditional and human rights;
• • fibre harvested from forests in which there are known activities in violation of workers’ rights and principles as defined in the ILO Declaration on Fundamental Principles and Rights at Work;
• • fibre harvested in which high conservation values in forests or high conservation value areas are being destroyed or at risk of being destroyed due to management activities;
• • fibre harvested in areas in which there is conversion of natural forest to plantations or non-forest use;
• • fibre from areas where the use of genetically modified organisms in forestry operations exist or in areas where research takes place.

2. We commit to produce and source fibre that meet credible forest certification standards where feasible. This includes commitment to:

• • increase the proportion of certified fibre overtime;
• • implement and maintain Chain-of-Custody certification systems at all our pulp and paper mills.

3. We commit to work with our suppliers to meet the requirements of this policy which includes:

• • supporting efforts to obtain forest certification in an efficient, cost effective manner;
• • providing technical assistance to advance sustainable forest management practices;
• • and where breaches occur, applying constructive engagement in working with our suppliers to resolve and prevent further instances of non-compliance.

4. To implement and demonstrate progress toward our commitments, Asia Symbol further commits to:

• • Risk assessment: assess deforestation, conversion and human rights risks within our operations, supply chains, and prioritize interventions in areas or with suppliers that are not low-risk.
• • Supplier engagement: Work with our suppliers to address, prevent, mitigate, and where necessary remedy, environmental and social harms that violate this policy.
• • Monitoring: Track implementation and results through a robust and transparent monitoring mechanism.

 

Max Chen Xiao Rong
Deputy Chairman of Management Committee, Asia Symbol
June 2023

 

_[1] Accountability Framework’s definition of “deforestation”: the loss of natural forest as a result of: a) conversion to agriculture or other non-forest land use; b) conversion to a plantation; or c) severe or sustained degradation

_[2] Accountability Framework’s definition of conversion, including “gross conversion” Change of a natural ecosystem to another land use or profound change in the natural ecosystem’s species composition, structure, or function

3rd update:：June 2023