Priceworth International
Timber and pulp assessment- Latest update: August 2023
- Next scheduled: August 2024
Download data (CSV)
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About this company:
Established in 1992, Priceworth International is an investment... Read more.
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Market cap:50,869,516 USD
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Thomson Reuters ticker:PWPB.KL
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Bloomberg ticker:PWP MK Equity
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Website:
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Media Monitor
- ZSL's SPOTT team monitors international media for news on assessed companies, collecting articles about pertinent activities. They don't confirm the accuracy of the media coverage, but it can be leveraged by SPOTT users to gain insights into a company's operations and possible risks. To access this company's media reports, scroll down or click here.
Company assessment: Priceworth International – August 2023
Assessment date:
Score by disclosure type:
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Sustainability policy and leadership
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0 / 11. Sustainable forestry policy or commitment for all its operations?
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0 / 1
2. Sustainable forestry policy or commitment applies to all suppliers?
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3. High-level position of responsibility for sustainability?
The company reports that it has a Head of Operation of Sustainable Forest Management of the Group. However, it is unclear if this position includes a responsibility for sustainability.
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0 / 1
4. One or more members within the board of the company have responsibility for sustainability?
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5. Percentage or number of women in senior management team?
0 - The company reports that it has 0 women in its key senior management team. However, it is not clear if this covers the company's entire management team.
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6. Percentage or number of women board members?
0 - The company does not report gender balance directly, however based on employee profiles it can be inferred that the company has 0 women in its board of directors.
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0 / 1
7. Member of multiple industry schemes or other external initiatives to reduce negative environmental or social outcomes associated with timber and pulp production?
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0 / 1
8. Collaboration with stakeholders to reduce negative environmental or social outcomes associated with timber and pulp production?
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0 / 1
9. Sustainability report published within last two years?
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0 / 1
10. Reports through standardised reporting systems?
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0 / 1
11. Climate risks assessment available?
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0 / 1
12. Natural capital assessment available?
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Landbank, maps and traceability
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13. Lists countries and operations?
Operations - Malaysia, Head office and major factories - Sandakan, Sabah.
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0 / 1
14. Lists countries sourcing from?
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15. Total land area managed/controlled for forestry (ha)?
27900 - The company had 27,900 ha of FMU under the Sustainable Forest Management (SFM) authority in 2021. However, it is unclear if it covers all operations.
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16. Total area of natural forest designated for wood/wood fibre production (ha)?
27900 - The company had 27,900 ha of FMU under the Sustainable Forest Management (SFM) authority in 2021. However, the total area of natural forest designated for wood/wood fibre production was not disclosed.
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17. Total area of forest plantation (ha)?
27900 - The company had 27,900 ha of FMU under the Sustainable Forest Management (SFM) authority in 2021. However, no clear information regarding the plantation area could be found.
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0 / 1
18. Area of plantation/natural forest within outgrower schemes (ha)?
0
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0 / 1
19. Unplanted (areas designated for future development as plantation forest) (ha)?
0
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0 / 1
20. Conservation set-aside area, including HCV area (ha)?
0
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0 / 1
21. Area of Intact Forest Landscape (ha)?
0
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22. Number of Forest Management Units (FMUs)?
2 - The company reports that it has two FMUs. However, it is unclear if this covers all FMUs.
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0 / 1
23. Maps of forest management units (FMUs)?
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0 / 1
24. Forest management plans available for all FMUs?
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0 / 1
25. Monitoring of forest management plan implementation available?
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26. Company has provided valid legal documents to Open Timber Portal on use right (at the time of SPOTT assessments)?
This indicator is disabled as the company reports that it doesn't operate in a geography currently covered by Open Timber Portal.
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27. Company has provided valid legal documents to Open Timber Portal on forest management (at the time of SPOTT assessments)?
This indicator is disabled as the company reports that it doesn't operate in a geography currently covered by Open Timber Portal.
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28. Company has provided valid legal documents to Open Timber Portal on timber harvesting (at the time of SPOTT assessments)?
This indicator is disabled as the company reports that it doesn't operate in a geography currently covered by Open Timber Portal.
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0 / 1
29. Names and locations of all third-party supplying FMUs?
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30. Number of company owned sawmills?
4 - The company reports that it has 4 sawmills.
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31. Names and locations of company owned sawmills?
The company has provided the addresses of each sawmill. However, no proper coordinates or maps were disclosed.
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32. Number of company-owned pulp and paper mills?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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33. Names and locations of company-owned pulp and paper mills?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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0 / 1
34. Reports total volumes (or percentages) sourced by company-owned sawmills that come from company's own operations and third-parties?
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35. Reports total volumes (or percentages) sourced by company-owned pulp and paper mills that come from company's own operations and third-parties?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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0 / 1
36. Number of third party supplying mills?
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0 / 1
37. Names and locations of all third party supplying mills?
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0 / 1
38. Reports total volume (or percentages) sourced from third-party supplying mills that come from the supplying mills' own operations and third parties?
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0 / 1
39. Procedures to trace raw materials to country of harvest?
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0 / 1
40. Percentage of supply traceable to country of harvest?
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0 / 1
41. Procedures to trace raw materials to FMU level?
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0 / 1
42. Percentage of supply traceable to FMU level?
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Certification standards
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0 / 1
43. Time-bound plan for achieving 100% third-party legality verification of FMUs or achieved?
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0 / 1
44. Percentage area (ha) verified as being in legal compliance by a third party?
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0 / 1
45. Time-bound plan to source only wood/wood fibre that is in legal compliance verified by a third party?
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0 / 1
46. Percentage of all wood/wood fibre supply traded/processed verified as being in legal compliance by a third party?
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0 / 1
47. Percentage area (ha) FSC FM certified?
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0 / 1
48. Time-bound plan for achieving 100% FSC FM certification of FMUs within 10 years?
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0 / 1
49. Percentage of wood/wood fibre supply (tonnes) from all suppliers that comes from FSC FM certified areas?
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0 / 1
50. Commitment to source only wood/wood fibre that meets FSC Controlled Wood and/or PEFC Controlled Sources requirements?
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0 / 1
51. Percentage area (ha) PEFC certified (excluding FSC certified area)?
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Deforestation and biodiversity
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0 / 1
52. Commitment to zero conversion of natural ecosystems?
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0 / 1
53. Commitment to zero conversion of natural ecosystems applies to all suppliers?
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0 / 1
54. Commitment to zero deforestation?
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0 / 1
55. Commitment to zero deforestation applies to all suppliers?
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0 / 1
56. Criteria and cut-off date for defining deforestation and/or ecosystem conversion?
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0 / 1
57. Criteria and cut-off date for defining deforestation in supplier operations?
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0 / 1
58. Evidence of monitoring deforestation and/or ecosystem conversion?
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0 / 1
59. Evidence of monitoring deforestation and/or ecosystem conversion in supplier operations?
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0 / 1
60. Amount of deforestation and/or ecosystem conversion recorded in own operations since cut-off date?
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0 / 1
61. Amount of deforestation and/or ecosystem conversion recorded in supplier operations since cut-off date?
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0 / 1
62. Commitment to restoration of deforestation/conversion in own operations since cut-off date?
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0 / 1
63. Commitment to restoration of deforestation/conversion in supplier operations since cut-off date?
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0 / 1
64. Implementing a landscape or jurisdictional level approach?
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0 / 1
65. Biodiversity policy?
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0 / 1
66. Biodiversity policy applies to all suppliers?
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0 / 1
67. Identified species of conservation concern, referencing international or national system of species classification?
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0 / 2
68. Examples of species and/or habitat conservation management?
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69. Commitment to no hunting or only sustainable hunting of species?
The company reports that it monitors the hunting of species. However, a commitment to no hunting or only sustainable hunting of species could not be found.
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0 / 1
70. Commitment to no hunting or only sustainable hunting of species applies to all suppliers?
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71. Commitment to protect forest areas from illegal activities?
The company reports that it monitors illegal activities. However, no proper commitment to protect forest areas from illegal activities could be found.
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0 / 1
72. Commitment to protect forest areas from illegal activities applies to all suppliers?
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73. Evidence of protecting forest areas from illegal activities?
The company reports that it monitors illegal hunting in the Sustainable Forest Management Area. However, the information is self-reported and between two to five years old.
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0 / 1
74. Commitment to no use of genetically modified organisms?
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0 / 1
75. Commitment to no use of genetically modified organisms applies to all suppliers?
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HCV, HCS and impact assessments
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0 / 1
76. Commitment to conduct High Conservation Value (HCV) assessments?
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0 / 1
77. Commitment to conduct High Conservation Value (HCV) assessments applies to all suppliers?
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0 / 1
78. High Conservation Value (HCV) assessments available?
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0 / 1
79. High Conservation Value (HCV) management and monitoring plans available?
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0 / 1
80. Commitment to the High Carbon Stock (HCS) Approach?
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0 / 1
81. Commitment to the High Carbon Stock (HCS) Approach applies to all suppliers?
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0 / 1
82. High Carbon Stock (HCS) assessments available?
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0 / 1
83. Peer review of all High Carbon Stock (HCS) assessments undertaken since April 2015 by the HCSA Quality Assurance Process?
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0 / 1
84. Commitment to conduct social and environmental impact assessments (SEIAs)?
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0 / 1
85. Commitment to conduct social and environmental impact assessments (SEIAs) applies to all suppliers?
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0 / 1
86. Social and environmental impact assessments (SEIAs) available, and associated management and monitoring plans?
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87. Company has provided valid legal documents to Open Timber Portal on impact assessments (at the time of SPOTT assessments)?
This indicator is disabled as the company reports that it doesn't operate in a geography currently covered by Open Timber Portal.
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Soils, fire and GHG emissions
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0 / 1
88. Commitment to no planting on peat of any depth?
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0 / 1
89. Commitment to no planting on peat of any depth applies to all suppliers?
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0 / 1
90. Landbank or planted area on peat (ha)?
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0 / 1
91. Implementation of commitment to no planting on peat of any depth?
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0 / 1
92. Commitment to best management practices for soils and peat?
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0 / 1
93. Commitment to best management practices for soils and peat applies to all suppliers?
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0 / 2
94. Evidence of best management practices for soils and peat?
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95. Commitment to reduced impact logging?
The company commits to Reduced Impact Logging (RIL) and specifically mentions minimising the impact of logging roads along with other RIL practices.
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0 / 1
96. Commitment to reduced impact logging applies to all suppliers?
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97. Evidence of implementing reduced impact logging practices?
The company reports that it harvests logs by the method of Reduced Impact Logging ('RIL') which largely reduces logging damage to future crop trees. It also states that this system is conducive for allowing the forest to regenerate naturally before the next harvesting cycle. However, the information is self-reported and between two to five years old.
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0 / 1
98. Commitment to zero burning?
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0 / 1
99. Commitment to zero burning applies to all suppliers?
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100. Evidence of fire monitoring and management?
The company reports monitoring forest fires in its Sustainable Forest Management Area. However, limited detail is provided and the information is not externally verified.
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0 / 1
101. Details/number of hotspots/fires in company FMUs?
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0 / 1
102. Details/number of hotspots/fires in suppliers operations?
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0 / 1
103. Time-bound commitment to reduce greenhouse gas (GHG) emissions intensity?
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0 / 1
104. GHG emissions intensity?
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0 / 1
105. GHG emissions from land use change in company's own operations (scope 1)?
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(NEW: not scored this year) -
106. GHG emissions from land use change in supplier operations (scope 3)?
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0 / 1
107. Progress towards commitment to reduce GHG emissions intensity?
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0 / 1
108. Methodology used to calculate GHG emissions?
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Water, chemical and pest management
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109. Time-bound commitment to improve water use intensity?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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110. Water use intensity?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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111. Progress towards commitment on water use intensity?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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112. Time-bound commitment to improve water quality (BOD or COD)?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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113. Progress towards commitment on water quality (BOD or COD)?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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114. Treatment of pulp and paper mill effluent?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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0 / 1
115. Evidence of sawmill run-off containment and wastewater treatment?
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116. Proportion of processing facilities with closed-loop water treatment system?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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0 / 1
117. Commitment to protect natural waterways through buffer zones?
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0 / 2
118. Implementation of commitment to protect natural waterways through buffer zones?
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0 / 1
119. Commitment to minimise the use of chemicals, including pesticides and chemical fertilisers?
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0 / 1
120. Commitment to minimise the use of chemicals, including pesticides and chemical fertilisers, applies to all suppliers?
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121. Evidence of eliminating chlorine and chlorine compounds for bleaching?
This indicator is disabled as the company reports that it does not own pulp or paper mills.
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0 / 1
122. Commitment to no use of World Health Organisation (WHO) Class 1A and 1B pesticides?
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0 / 1
123. Commitment to no use of World Health Organisation (WHO) Class 1A and 1B pesticides applies to all suppliers?
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0 / 1
124. Commitment to no use of chemicals listed under the Stockholm Convention and Rotterdam Convention?
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0 / 1
125. Commitment to no use of chemicals listed under the Stockholm Convention and Rotterdam Convention applies to all suppliers?
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0 / 1
126. Chemical usage per ha or list of chemicals used?
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0 / 2
127. Implementation of commitment to minimise inorganic fertiliser usage?
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0 / 2
128. Integrated Pest Management (IPM) approach?
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129. Waste management system in place to avoid negative impacts?
The company has a waste management system in place that includes installing chipping machines to reduce smoke emission, centralized suction and an air-filtration system to minimize sawdust in the air for a lean and better working environment. However, the information is self-reported.
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Community, land and labour rights
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0 / 1
130. Commitment to human rights?
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0 / 1
131. Commitment to human rights applies to all suppliers?
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0 / 1
132. Progress on human rights commitment ?
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0 / 1
133. Commitment to respect indigenous and local communities' rights?
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0 / 1
134. Commitment to indigenous and local communities' rights applies to all suppliers?
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0 / 1
135. Commitment to respect legal and customary land tenure rights?
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0 / 1
136. Commitment to legal and customary land rights applies to all suppliers?
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0 / 1
137. Commitment to free, prior and informed consent (FPIC)?
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0 / 1
138. Commitment to free, prior and informed consent (FPIC) applies to all suppliers?
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0 / 1
139. Details of free, prior and informed consent (FPIC) process available?
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0 / 1
140. Examples of local stakeholder engagement to prevent conflicts?
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0 / 1
141. Details of process for addressing land conflicts available?
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0 / 1
142. Supports the inclusion of women across forestry operations, including addressing barriers faced?
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143. Company has provided valid legal documents to Open Timber Portal on population rights (at the time of SPOTT assessments)?
This indicator is disabled as the company reports that it doesn't operate in a geography currently covered by Open Timber Portal.
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0 / 1
144. Commitment to enable sustainable use of non-timber forest products (NTFPs) by local communities?
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0 / 1
145. Commitment to provide essential community services and facilities ?
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146. Progress on commitment to provide essential community services and facilities?
The company reports that it has built several bridges, and provided employment opportunities and necessary training to the local villagers with the aim of improving livelihood and living standards. This information is not externally verified.
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147. Commitment to provide business/work opportunities for local communities?
The company reports providing employment opportunities to the local villagers with the aim of improving livelihood and living standards. However, no clear commitment is available.
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148. Company has provided valid legal documents to Open Timber Portal on labour regulations (at the time of SPOTT assessments)?
This indicator is disabled as the company reports that it doesn't operate in a geography currently covered by Open Timber Portal.
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0 / 1
149. Commitment to Fundamental ILO Conventions or Free and Fair Labour Principles?
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0 / 1
150. Commitment to Fundamental ILO Conventions or Free and Fair Labour Principles applies to all suppliers?
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0 / 2
151. Progress on commitment to respect all workers' rights?
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0 / 1
152. Commitment to eliminate gender related discrimination with regards to employment?
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0 / 1
153. Commitment to eliminate gender related discrimination with regards to employment applies to all suppliers?
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0 / 1
154. Progress on commitment to eliminate gender related discrimination with regards to employment?
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0 / 1
155. Percentage or number of temporary employees?
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0 / 1
156. Percentage or number of women employees?
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0 / 1
157. Commitment to pay a living wage?
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0 / 1
158. Commitment to pay a living wage applies to all suplliers?
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0 / 1
159. Progress on commitment to pay a living wage?
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0 / 1
160. Reporting of salary by gender?
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161. Commitment to address occupational health and safety?
The company commits to addressing occupational health and safety. However, it does not refer to the ILO Code of Practice on Safety and Health in Forestry Work.
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0 / 1
162. Commitment to address occupational health and safety applies to all suppliers?
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0 / 2
163. Provision of personal protective equipment and related training?
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164. Time lost due to work-based injuries?
0 - The company reports 0 cases of work-based injuries for FY 2021.
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165. Number of fatalities as a result of work-based accidents?
0 - The company reports that it has recorded 0 cases of workplace incidents in 2021.
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Smallholders and suppliers
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0 / 1
166. Commitment to support smallholders?
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0 / 1
167. Programme to support outgrower scheme and/or independent smallholders?
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0 / 1
168. Number or percentage of outgrower scheme and/or independent smallholders involved in programme?
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0 / 1
169. Process used to prioritise, assess and/or engage suppliers on compliance with company's policy and/or legal requirements?
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0 / 1
170. Number or percentage of suppliers assessed and/or engaged on compliance with company's policy and/or legal requirements?
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0 / 1
171. Suspension or exclusion criteria for suppliers?
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0 / 1
172. Timebound action plans (including Key Performance Indicators) for suppliers to be in compliance with timber and pulp sourcing commitments?
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0 / 1
173. Proportion of direct and indirect supply that comes from FMUs which are compliant with timber and pulp sourcing policies?
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Governance and grievances
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174. Commitment to ethical conduct and prohibition of corruption?
The company reports that it promotes ethical conduct while prohibiting corruption. However, no clear commitment could be found.
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0 / 1
175. Commitment to ethical conduct and prohibition of corruption applies to all suppliers?
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0 / 1
176. Progress on commitment to ethical conduct and prohibition of corruption?
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177. Company has provided valid legal documents to Open Timber Portal on legal registration (at the time of SPOTT assessments)?
This indicator is disabled as the company reports that it doesn't operate in a geography currently covered by Open Timber Portal.
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0 / 1
178. Disclosure of the company's management approach to tax and payments to governments?
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179. Company has provided valid legal documents to Open Timber Portal on taxes, fees and royalties (at the time of SPOTT assessments)?
This indicator is disabled as the company reports that it doesn't operate in a geography currently covered by Open Timber Portal.
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180. Whistleblowing procedure?
The company has its own whistleblowing procedure. However, a clear description of how whistleblowers can report unethical conduct and how they are protected is not mentioned.
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0 / 1
181. Own grievance or complaints system open to all stakeholders?
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0 / 1
182. Details of complaints and grievances disclosed?
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SPOTT scores are based on the presence of external evidence made available by the company or third-parties.
Media monitor: Priceworth International
SPOTT monitors global media sources for coverage of assessed companies. The media monitor gathers reports about specific activities related to the assessment indicator categories. ZSL does not assess or score the validity of media coverage, but users can explore the media monitor to provide context on implementation, and infer risks associated with reported operations on the ground.
Last media reports:
August 2018
KING GONE! Sabah's 'Chief Conservator' Of Forests Booted Out At Last
January 2017
Sabah to gazette forest as protected area for orang utan population
Media monitor: Priceworth International
SPOTT monitors global media sources for coverage of assessed companies. The media monitor gathers reports about specific activities related to the assessment indicator categories. ZSL does not assess or score the validity of media coverage, but users can explore the media monitor to provide context on implementation, and infer risks associated with reported operations on the ground.
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