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  • Overall approach
    6/12
    • Overarching commitment on deforestation
      4/4
      Conversion-free/zero-gross conversion/zero-net conversion commitment or a zero deforestation/deforestation-free commitment that explicitly includes all other natural ecosystems
      4/4
      "Commitment to archive deforestation- and conversion-free production and procurement for the whole supply chain"
    • Signatory to an initiative tackling deforestation
      0/1
    • Awareness of the value of forests
      1/1
      Yes
      1/1
      "In the forests of Precious Woods, the fauna and flora live in their original habitat thanks to gentle and sustainable management. Hundreds of tree species share the forest in Gabon with large populations of various protected large mammals such as elephants, gorillas, and chimpanzees. [...] HCV areas have a very high level of biodiversity, in which large populations of indigenous animal species live or which constitute rare and fragile ecosystems. HCV areas also include zones that are important for the local population, for example as a source of food. If places have a religious or social significance or are part of the national or international heritage, they are likewise protected integrally as HCV areas. In our forests in Brazil and Gabon, 70 300 ha have been identified as HCV areas and excluded from use."
    • Deforestation as a business risk
      0/1
    • High-level management of deforestion
      1/1
      Yes
      1/1
      Which commodities does it apply to?: Timber

      How often does the committee or board meet to assess company's progress on addressing deforestation-related issues?: Not disclosed
      "The Board of Directors is responsible for compliance with and further development of sustainability. The Sustainability Advisory Committee (SAC) advises Precious Woods on new developments in sustainability in the management of tropical forests and supports the company in its relations with local and international interest groups and professional organizations. The SAC gives recommendations for achieving Precious Woods’ economic, environmental, and social sustainability objectives and related reporting requirements."
    • Executive compensation linked to deforestation
    • Target to reduce emissions from land-use change
      0/2
    • Reporting on emissions from land-use change
      0/2
    • Disclosure of conservation activity
    • Disclosure of reforestation activity
    • Target to reduce emissions in scope 1/2
  • Commodity score
    62/88
    • Timber
      62/88
      • Commitment Strength
        17/20
        • Commitment to protect priority forests
          11/11
          • Commitment details
            Zero-gross conversion
            8/8
            Commitment to protect priority forests
            Zero-gross conversion
            8/8
            "Commitment to archive deforestation- and conversion-free production and procurement for the whole supply chain [...] FSC does not accept deforestation and conversion. For all own operations and our FSC certified supply we thus commit automatically to deforestation- and conversion-free production. PEFC does accept small-scale conversion of maximal 5% of the certified area only if it “makes a contribution to long-term conservation, economic, and social benefits”14 . To avoid timber originating from deforested or conversed lands in our supply chain, we commit to only source PEFC certified products if they origin form countries where deforestation and conversion is not tolerated by the law and where the legislation is enforced reliably. Today, we only source PEFC certified products from middle Europe."
          • Commitment applies to all regions, suppliers and operation
            Yes
            2/2
            Commitment applies to all regions, suppliers and operation
            Yes
            2/2
            "Commitment to archive deforestation- and conversion-free production and procurement for the whole supply chain [...] FSC does not accept deforestation and conversion. For all own operations and our FSC certified supply we thus commit automatically to deforestation- and conversion-free production. PEFC does accept small-scale conversion of maximal 5% of the certified area only if it “makes a contribution to long-term conservation, economic, and social benefits”14 . To avoid timber originating from deforested or conversed lands in our supply chain, we commit to only source PEFC certified products if they origin form countries where deforestation and conversion is not tolerated by the law and where the legislation is enforced reliably. Today, we only source PEFC certified products from middle Europe."
          • Target date
            Current/achieved
            1/1
            Target date
            Current/achieved
            1/1
            "Commitment to archive deforestation- and conversion-free production and procurement for the whole supply chain [...] FSC does not accept deforestation and conversion. For all own operations and our FSC certified supply we thus commit automatically to deforestation- and conversion-free production. PEFC does accept small-scale conversion of maximal 5% of the certified area only if it “makes a contribution to long-term conservation, economic, and social benefits”14 . To avoid timber originating from deforested or conversed lands in our supply chain, we commit to only source PEFC certified products if they origin form countries where deforestation and conversion is not tolerated by the law and where the legislation is enforced reliably. Today, we only source PEFC certified products from middle Europe."
          • Interim target date
            NA (target date current or achieved or 2022)
            0.5/0.5
            Interim target date
            NA (target date current or achieved or 2022)
            0.5/0.5
            "Commitment to archive deforestation- and conversion-free production and procurement for the whole supply chain [...] FSC does not accept deforestation and conversion. For all own operations and our FSC certified supply we thus commit automatically to deforestation- and conversion-free production. PEFC does accept small-scale conversion of maximal 5% of the certified area only if it “makes a contribution to long-term conservation, economic, and social benefits”14 . To avoid timber originating from deforested or conversed lands in our supply chain, we commit to only source PEFC certified products if they origin form countries where deforestation and conversion is not tolerated by the law and where the legislation is enforced reliably. Today, we only source PEFC certified products from middle Europe."
        • Commitment to a traceable supply chain
          9/9
          • Commitment details
            Traces to Point of production
            5.3/5.3
            Commitment to a traceable supply chain
            Traces to Point of production
            5.3/5.3
            "We commit to always applying a supply chain and traceability system, later referred to as Chain of Custody System (CoC). Our CoC system allows us to control our supply chain and ensure traceability at every stage of our production, processing, and trading activities. [...] Trees are all numbered with a unique number during inventory and harvesting planning. Once harvested, the unique number is marked on the tree and the stump. If the log is subdivided into multiple sections, the number of the section is added to the log." 
          • Commitment applies to all regions, suppliers and operation
            Yes
            2/2
            Commitment applies to all regions, suppliers and operation
            Yes
            2/2
            "We commit to always applying a supply chain and traceability system, later referred to as Chain of Custody System (CoC). Our CoC system allows us to control our supply chain and ensure traceability at every stage of our production, processing, and trading activities. [...] Trees are all numbered with a unique number during inventory and harvesting planning. Once harvested, the unique number is marked on the tree and the stump. If the log is subdivided into multiple sections, the number of the section is added to the log." 
          • Target date
            Current/achieved
            1/1
            Target date
            Current/achieved
            1/1
            "We commit to always applying a supply chain and traceability system, later referred to as Chain of Custody System (CoC). Our CoC system allows us to control our supply chain and ensure traceability at every stage of our production, processing, and trading activities. [...] Trees are all numbered with a unique number during inventory and harvesting planning. Once harvested, the unique number is marked on the tree and the stump. If the log is subdivided into multiple sections, the number of the section is added to the log." 
          • Interim target date
            NA (target date current or achieved or 2022)
            0.5/0.5
            Interim target date
            NA (target date current or achieved or 2022)
            0.5/0.5
            "We commit to always applying a supply chain and traceability system, later referred to as Chain of Custody System (CoC). Our CoC system allows us to control our supply chain and ensure traceability at every stage of our production, processing, and trading activities. [...] Trees are all numbered with a unique number during inventory and harvesting planning. Once harvested, the unique number is marked on the tree and the stump. If the log is subdivided into multiple sections, the number of the section is added to the log." 
      • Social Considerations
        14/18
        • Labour rights in the supply chain
          Yes
          4/4
          Labour rights in the supply chain
          Yes
          4/4
          Details of commitment: ILO
          Most of the commitments made throughout this report also apply to our suppliers. They must respect the principles of FPIC, workers’ rights, gender equality, indigenous and local communities’ rights, and legal and customary land rights. [...] Suppliers shall [...] always respect Fundamental ILO Conventions or Free and Fair Labour Principles."; " It is also imperative that we comply with international law and international conventions. These include the Universal Declaration of Human Rights, the rules of the World Health Organization (WHO) and the International Labour Organization (ILO)"
        • Inclusion of small-scale farmers
          Yes
          4/4
          Inclusion of small-scale farmers
          Yes
          4/4
          What is the nature of that support?: Other
          "We only accept products in our supply chain produced under FSC or PEFC certification or in compliance with our Procurement Policy. It often appears difficult for small-scale producers in tropical areas to meet these criteria. Therefore, we promote small-scale producers in our supply chain that meet these requirements or strive towards compliance. We do, for example, partner with FSC certified cooperatives in South-America composed of several small-scale producers."
        • Gender equality in the supply chain
          Commitment to address the inclusion of women in commodity supply chains
          2/4
          Gender equality in the supply chain
          Commitment to address the inclusion of women in commodity supply chains
          2/4
          "We [...] strongly support all initiatives striving towards an equal inclusion of women in the working world, especially in regions or sectors where men still represent most of the workforce. [...] Since 2016, Precious Woods Holding Ltd hired two female consultants, specialists in social work and education. One of their tasks was to assist Precious Woods in Gabon to tackle women’s education and gender equality. The long-term objectives are to have a more qualified female workforce available for our operations and to create a better business environment for women in general; The local management does actively attempt to increase the female workforce. In cooperation with local educational facilities we offer regular trainee programs with a high share of female trainees in order to make our company better known amongst and more attractive for young female professionals."
        • Commitment to remediation
          No
          0/2
        • Commitment to ensure Free, Prior and Informed Consent
          Yes, the company commits to securing FPIC prior to acquiring new interests, developments, or expansions
          4/4
          Commitment to ensure Free, Prior and Informed Consent
          Yes, the company commits to securing FPIC prior to acquiring new interests, developments, or expansions
          4/4
          Our Free, Prior, and Informed Consent (FPIC) procedures assure that all stakeholders have the same rights during decision making. [...] They must respect the principles of FPIC, workers’ rights, gender equality, indigenous and local communities’ rights, and legal and customary land rights"; "We require all these suppliers to be either FSC or PEFC certified which implies that they respect the principles of Free, Prior and Informed Consent (FPIC) in the scope of their certified operations."
        • Commitment to resolve land conflicts
          No
      • Reporting and Implementation
        28/50
        • Reporting against commitments
          0/3
          • Commitment to protect priority forests
            Yes, for all commodity exposure
            2.5/2.5
            Commitment to protect priority forests
            Yes, for all commodity exposure
            2.5/2.5
            "Precious Woods is a pioneer in sustainable forest management and forest certification. All of our forest operations are 100% FSC and PEFC certified. We manage a total of 1 100 000 ha of tropical rainforests under this dual certification. Our sawmills and veneer plants are 100% FSC Chain of Custody (CoC) certified, and we process only wood harvested in our own certified forests. Our wood trade is also 100% FSC-CoC certified and only trades wood from verified legal and sustainable sources."; Precious Woods timber products 2020 were 93.02% FSc certified and 100% PEFC certified. 
          • Commitment to a traceable supply chain
            No
            0/2.5
        • Reporting is independently verified
          2/2
          • Commitment to protect priority forests
            Yes, using a third-party verification scheme or certification scheme.
            1.5/1.5
            Commitment to protect priority forests
            Yes, using a third-party verification scheme or certification scheme.
            1.5/1.5
            Which processes or groups does the company use for third party verification?: FSC and PEFC

            Which tools, approaches, third-party verification, including certification, schemes are used?: FSC and PEFC
            "Precious Woods is a pioneer in sustainable forest management and forest certification. All of our forest operations are 100% FSC and PEFC certified. We manage a total of 1 100 000 ha of tropical rainforests under this dual certification. Our sawmills and veneer plants are 100% FSC Chain of Custody (CoC) certified, and we process only wood harvested in our own certified forests. Our wood trade is also 100% FSC-CoC certified and only trades wood from verified legal and sustainable sources."; Precious Woods timber products 2020 were 93.02% FSc certified and 100% PEFC certified. 
          • Commitment to a traceable supply chain
            No
            0/1.5
        • Suppliers aligned with deforestation commitments across supply chain
          No
          0/2
        • Deforestation cut off date
          No
          0/2
        • Collaborative actions
          Yes
          2/2
          Collaborative actions
          Yes
          2/2
          What is the nature of that participation?: Providing support/advice/experience/expertise

          What initiatives does the company participate in?: "We work closely together with numerous partners, including the World Conservation Society (WCS), the University of Science and Technology of Masuku (USTM), the Federal University of Amazonas (UFAM), Gembloux Agro-Bio Tech (ULiège), Nature+, and the Bern University of Applied Sciences (BFH-HAFL)"
          "Precious Woods believes that steady progress through research is the best way to make sustainable forest management the only viable business model for forestry, today and in the future. [...] Our close ties to national and international research institutions allow everyone involved to carry out research close to practice at our sites and also facilitate valuable exchanges between the private sector and public institutions. We work closely together with numerous partners, including the World Conservation Society (WCS), the University of Science and Technology of Masuku (USTM), the Federal University of Amazonas (UFAM), Gembloux Agro-Bio Tech (ULiège), Nature+, and the Bern University of Applied Sciences (BFH-HAFL)"
        • Risk assessments for forest risk
          Yes
          2/2
          Risk assessments for forest risk
          Yes
          2/2
          How frequently are assessments conducted?: At the point of acquisition and then at least annually
          "Every supplier must be assessed before products are purchased or traded for the first time. • Every supplier must be assessed annually. Country or product category specific procedures can require more frequent assessments. • Re-assessments can be performed as often as necessary for current suppliers, new suppliers and suspended suppliers. [...] If all necessary information has been gathered successfully, the country and product specific risks must be assessed. The assessment aims to identify if the risk for illegal activities throughout the whole supply chain is negligible. Therefore, the following aspects are assessed. 1. Corruption and transparency in the country of origin 2. Occurrence or risk of armed conflict 3. Forest governance and law enforcement 4. Risk of illegal activities 5. Supply chain 6. International sanctions and legislation 7. CITES compliance. [...] We do not accept any wood or timber supply to our processing or trading activities that is: [...] harvested in forests in which High Conservation Values (HCV) are threatened by management activities [...] harvested in forests being converted to plantations or non-forest use"
        • Operations assessed to comply with law
          Yes
          2/2
          Operations assessed to comply with law
          Yes
          2/2
          "Forest Management (FM) and Chain of Custody (CoC) certifications of the Forest Stewardship Council (FSC) and the Project for the Endorsement of Forest Certification (PEFC) are the strictest forest certifications schemes worldwide. If a company is certified against one of these standards, their wood does fulfil all legal requirements and much beyond. [...] The aim of this due diligence is to assure that a product has a negligible risk for illegal activities throughout the supply chain. [...] The assessment aims to identify if the risk for illegal activities throughout the whole supply chain is negligible. [...] Therefore, the following aspects are assessed. [...] Risk of illegal activities"
        • Accessible grievance mechanism
          No
          0/4
        • Report volumes of commodity
          Reporting total volume
          2/2
          Report volumes of commodity
          Reporting total volume
          2/2
          Total/partial volume reported: 162 329 m3
          Precious Woods report a total of 162 329 m3 of Precious Woods timber products 2020. Harvest volumes are also reported in their annual report.
        • Report verified volumes of commodity
          100%
          6/6
          Report verified volumes of commodity
          100%
          6/6
          What third-party verification is used?: FSC and PEFC

          What is the certified volume?: 100%

          What is the compliant volume?: 100%

          For what percent of the company's supply volume is third-party verification of performance relative to commitments conducted?: 100%
          The Woods timber products 2020 are 93.02 % FSC certified and 100% PEFC certified. 
        • Upstream: Monitor compliance with human rights
          Yes, commit to monitoring compliance with labour/worker rights; Yes, company discloses how many land developments or site acquisitions, by either itself or its suppliers, indicated the use of FPIC to secure consent of indigenous peoples/local communities
          4/4
          Upstream: Monitor compliance with human rights
          Yes, commit to monitoring compliance with labour/worker rights; Yes, company discloses how many land developments or site acquisitions, by either itself or its suppliers, indicated the use of FPIC to secure consent of indigenous peoples/local communities
          4/4
          "Since 2009 all our operations are FSC FM and CoC and additionally PEFC FM and CoC certified since 2018. Besides having a sustainable social, economic, and ecological impact, certification obliges us to monitor and verify social and environmental indicators as well as our supply chain constantly. These activities and compliance with certification requirements are checked annually by accredited and independent auditors."
        • Upstream: Impact assessments for land development/acquisition
          No
          0/4
        • Upstream: Reporting production/processing locations
          Reports location of certified land holdings only; Reports location of land holdings under conservation; Reports location of company-owned processing facilities
          3/4
          Upstream: Reporting production/processing locations
          Reports location of certified land holdings only; Reports location of land holdings under conservation; Reports location of company-owned processing facilities
          3/4
          In what jurisdiction(s)/subnational region does the company operate and/or source material?: Milolé area

          In what country(ies) does the company operate and/or source material?: Brazil, Gabon

          What is the total area (in ha) of natural ecosystem on land owned, managed, or controlled by the company?: 35,760 ha

          What is the total area in production (in ha)?: 370,000 ha

          What types of ecosystems are these?: "Following this study, the protection series was extended to new areas and represents currently 6% of the total area of ​​the CFAD or 35,760 ha."
          Precious Woods Holdings reported the location of their certified land holdings and land holdings under conservation in Gabon, and the location of their company-owned processing facilities in Brazil.
        • Downstream: Publishing supplier lists
          No
          0/4
        • Upstream: Monitor compliance of production/processing
          Yes, using a third-party verification system
          4/4
          Upstream: Monitor compliance of production/processing
          Yes, using a third-party verification system
          4/4
          Does the company use a certification system?: Yes

          How frequently is compliance assessed?: Annually

          Does the company use a jurisdictional monitoring mechanism?: No

          What tools, processes, bodies carry out monitoring of the company's production or processing operations?: Certification scheme

          If so, what jurisdictions and mechanisms does the company use?: FSC
          "All Precious Woods operations are double certified against the Forest Stewardship Council® FSC® and the Project for the Endorsement of Forest CertificationTM PEFCTM certification schemes." "Since 2009 all our operations are FSC FM and CoC certified, additionally, since 2018 all operations are PEFC FM and CoC certified2 . Compliance with the certification is checked annually by accredited and independent auditors3 . Non-compliance would lead to the suspension and loss of the certification."
        • Upstream: Reporting hectares of deforestation
          No
          0/4
        • Downstream: Monitor compliance in supply chain
          Yes, for its suppliers
          3/4
          Downstream: Monitor compliance in supply chain
          Yes, for its suppliers
          3/4
          What percentage of the company's supply chain volume does that represent?: 100%

          Details of monitoring: Using certification; Using internal monitoring and verification systems

          How frequently is compliance assessed?: Annually
          "Every supplier must be assessed before products are purchased or traded for the first time. […] Every supplier must be assessed annually. Country or product category specific procedures […] can require more frequent assessments. […] Re-assessments can be performed as often as necessary for current suppliers, new suppliers and suspended suppliers." “As part of our trading activities, we also trade with wood from other producers, which must also all be certified according to either the FSC or PEFC standard.”
        • Downstream: Reporting hectares of deforestation
          No
          0/4
        • Downstream: Engagement with non-compliant suppliers
          Blacklist non-compliant suppliers without engagement
          1/2
          Downstream: Engagement with non-compliant suppliers
          Blacklist non-compliant suppliers without engagement
          1/2
          Does the company engage non-compliant indirect suppliers in order to address and remedy non-compliance?: No
          "New Suppliers failing to pass the assessment are not accepted. Transition periods are not accepted. • Current suppliers that fail to pass the annual assessment are immediately discarded. Transition periods are not accepted."
        • Downstream: Disclosure of non-compliant suppliers
          No disclosure
          0/2
  • Commitment strength
    17/20
    Avg. score
  • Reporting and Implementation
    28/50
    Avg. score
  • Social considerations
    14/18
    Avg. score

Profile

Precious Woods is a Swiss based company involved in the cultivation, processing and trading of tropical timber. It manages forests in both Brazil and Gabon. The company has sawmills and manufacturing facilities in both regions, Precious Woods is also a major timber trader in Europe. Precious Woods Holding AG is selected as a powerbroker for timber.

Sector
Industry sector 
Construction, Forestry
Segments
Producer, Trader, Processor
HQ
HQ 
Switzerland
Company Type
Company type 
Public listed
Collective Commitments
Consumer Goods Forum member
New York Declaration on Forests signatory

How we assess the Forest 500

To ensure deforestation free supply chains, companies need to adopt and implement timebound and measurable policies for forest risk commodities.

All assessments use policies published on company websites, some links may have changed or been removed since the time of assessment.

Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.