Paper Sourcing Statement The Walt Disney Company

Nature conservation is an important priority for Disney, and we are deeply concerned about the ongoing clearance of rainforests for pulp and paper. As part of our broad commitment to Corporate Citizenship, The Walt Disney Company’s Environmental Policy addresses water and energy conservation; greenhouse gas emissions reduction; waste minimization; and ecosystem conservation. In addition, the policy is designed to inspire Disney employees, cast members, guests, and business colleagues to take positive action for the environment. In support of the policy, long-term goals have been established to reduce our environmental footprint throughout our global operations and to minimize the footprint of Disney-branded products.

One component of the goal of reducing our environmental footprint is the responsible use of forest resources. In its March 2011 Corporate Citizenship Report Disney published a goal that 100% of paper sourced for products and packaging by its non-licensed businesses be sustainable. The paper sourced will contain recycled content, be sourced from certified forests, or be of known source origin. As a next step Disney is developing a Company-wide paper policy that will expand this goal to include all paper associated with licensed products and packaging bearing Disney characters, marks or brands.

As a licensor of intellectual property, Disney recognizes the challenges associated with a large and complex supply chain, and is undertaking an assessment to determine how best to address these challenges and achieve these goals within such a unique supply chain. Due to the urgency of the deforestation issues in Indonesia, Disney is asking all its licensees, vendors and suppliers to avoid using paper or fiber from Indonesia that does not meet the FSC-Controlled Wood Standarduntil needed reforms to stop further clearance of natural rainforests are implemented.