Advanced Refrigeration - ARS2025002

Audit Analysis

A multi-site advanced refrigeration project under ACR with VVB-confirmed additionality and a named verification body, but the identical ERR figures across the lifetime estimate and a single 9-month monitoring period raise serious over-crediting concerns. Thirteen material findings (all closed) and a contradiction in leakage treatment between the validation and monitoring reports further erode confidence in the data integrity.

Project Description

Red Flags

• ⚠The verified ERR of 193,401 for a 9-month monitoring period is identical to the 10-year lifetime ex-ante estimate of 193,401, implying the project delivered 13.3× the pro-rata expectation for the elapsed period — a potential over-crediting issue of the highest order.
• ⚠Thirteen material findings were raised by the VVB (SES, Inc), including misstatements in project GWP, baseline refrigerant charges, site-specific implementation dates, and equipment addresses across multiple facilities, indicating significant documentation quality issues at the time of verification.
• ⚠Leakage treatment is contradictory: the monitoring report (2026-06-29) states leakage is deemed negligible, while the validation report (2026-06-30) indicates leakage was not addressed at all.

Credit Vintages