Advanced Refrigeration - ARS2021005

Audit Analysis

A multi-state US advanced refrigeration project (HFC replacement) with VVB-confirmed additionality and a consistent ERR figure of 166,106 tCO2e across all documents. However, six material findings—including inconsistent baseline cooling capacities, GPS errors, and monitoring-report inaccuracies—along with six outstanding corrective actions significantly undermine confidence in the baseline and MRV data. The project is operational and the technology is sound, but documentation quality and baseline reliability remain concerns.

Project Description

Red Flags

• ⚠Six material findings in the verification report, including inconsistent cooling capacities in baseline calculations for Publix #1706 and #1789, which directly affect the ERR for those stores
• ⚠Six corrective actions remain outstanding, including unresolved store-opening-date evidence, ESIA errors, and incorrect GPS coordinates in the Project Plan
• ⚠Leakage justification is contradictory: the monitoring report (Dec 2023) states it was deemed negligible, while the validation report (Dec 2023) records it as not addressed
• ⚠Baseline is project-specific with no reassessment date stated in available documents

Credit Vintages