The report...said that false assumptions about the origins and cost of wood used in emerging-market mills has led investors to channel billions of dollars into financially risky and environmentally destructive ventures...CIFOR in particular singled out two Indonesian-based companies, Asia Pulp and Paper (APP) and Asia Pacific Resources International Ltd (APRIL), saying that financial institutions had failed to conduct proper due diligence...APRIL denied the report. "CIFOR's statement is extremely misleading and is based on inaccurate data. There is absolutely nothing risky about APRIL's operations," said president A.J. Devanesan in a statement. He said the company was "a fully sustainable operation" with sufficient acacia plantations and more planned to meet its requirements. "Each year, APRIL plants around 110 million trees. This provides an ongoing source of renewable fiber from which pulp and paper is made."