23MW Bubunawan 2 Hydropower Project

Audit Analysis

The 23 MW Bubunawan 2 hydro project in the Philippines has a VVB-verified combined additionality test and a jurisdictional baseline, but is undermined by a seven-fold discrepancy between the PDD and validation report on lifetime emissions reductions, thirteen material findings at validation, and a near-total absence of monitoring, permanence, and safeguards data in the extracted record. The project's crediting period (2015–2021) has already expired, and no verified monitoring results are available to confirm actual delivery.

Project Description

Red Flags

• ⚠Seven-fold discrepancy in lifetime ERR: the PDD (Sep 2012) claims 534,100 tCO₂e while the validation report (Oct 2012) records only 76,300 tCO₂e — a factor-of-7 gap that cannot be explained by period differences and suggests a fundamental error in one of the two documents.
• ⚠Thirteen material findings (CARs) at validation, including inconsistent grid emission-factor data versus official sources, missing monitoring parameters, and a common-practice analysis that did not align with the additionality tool requirements.
• ⚠No buffer pool, no reversal-event record, and no monitoring-period data are present in the extracted record, leaving permanence and actual delivery entirely unverified.
• ⚠Low extraction confidence across the document set, meaning at least one key document was poorly readable and the completeness of the evidence base is uncertain.

Credit Vintages

No issuances recorded on the registry.