Agreement signed by International Chamber of Commerce, Singapore Government and a consortium of industry leaders at the World Economic Forum Annual Meeting

Davos, Switzerland – APRIL Group, a leading producer of fibre, pulp and paper, is among a group of global industry leaders to sign a cooperation agreement with the International Chamber of Commerce (ICC) and Singapore Government that aims to accelerate the adoption of digital technologies in trade and commerce.

The cooperation agreement is designed to accelerate the shift from paper-based systems to digitally- enabled trade to reduce trade barriers while promoting greater supply chain efficiency, accuracy and transparency. Digitally-enabled trade can also support the fulfillment of sustainability commitments through enhanced traceability across supply chains.

Other signatories to the cooperation agreement include DBS Bank, Mastercard, Mitsubishi Corporation, Mitsui & Co., Ltd., Mizuho Bank, MUFG Bank, Ltd., Noble, PSA International, Standard Chartered Bank, Sumitomo Corporation, Sumitomo Mitsui Banking Corporation, Tokio Marine, and Trafigura.

“Digital innovation already gives many consumers the ability to trace a product’s origins but the opportunity here is to deliver this at scale,” said Praveen Singhavi, President, APRIL Group. “Blockchain innovation has enabled our sister company, Asia Pacific Rayon, to empower its customers in the textile and fashion industry to trace the raw materials it uses in its viscose products back to our sustainably managed plantations, using a platform called Follow our Fibre.”

“This assures APR’s customers that APR’s viscose products come from responsibly managed and certified renewable plantations and mills. This is an important first step in providing provenance throughout the long textile value chain so as to empower consumers globally on their sustainable fashion choices,” he added.

APRIL currently deploys a range of digital tools that monitor product shipments and distribution across more than 70 countries worldwide, allowing our customers real-time access to information such as order status. The company also uses digital technologies to monitor plantation growth and land cover change across more than 450,000 hectares of plantations, mainly in Sumatra. However, the potential for digitalisation goes beyond monitoring.

“Trade digitalisation is fundamentally impacting the paper industry and contributing to a more productive and sustainable supply chain. The increasing adoption of digital technologies through private-public sector cooperation can only enhance these gains,” said Mr. Singhavi.