Lacquered papier-mâché horn speakers were reasonably common back in the early days of domestic radio, and until fairly recently, speaker cones were usually made of light card, so a speaker made of 80% recycled paper/card. is definitely possible. Heck, MDF can be made from recycled paper, and I'm sure an acceptable acoustic wadding could be as well (as rayon fibre can be made from recycled paper), so a conventional ported or unported enclosure is also within possible solution set. However even a stereo speaker system made from recycled cardboard male hospital urinals, with drivers hot-glued to their flat bases would perform (and smell) better than this reeking P.O.S.