Afforestation and restoration of degraded forests in Eastern Paraguay or Forestal Azul Carbon Project
#5of 261 in Soil carbon#1of 8 in Paraguay#112of 1339 in Verra (VCS)#1of 97 in AR-ACM0003
Audit Analysis
The Forestal Azul Carbon Project is a VCS-registered afforestation and restoration project in Eastern Paraguay with a verified combined additionality test, a 12% buffer pool, and no reversal events. The project delivered approximately 128% of its pro-rata ex-ante expectation for the elapsed crediting period, indicating conservative initial estimates. However, the project-specific baseline, a 0% leakage deduction with inconsistent justification across documents, and three outstanding corrective actions temper the overall assessment.
Red Flags
- Three corrective actions (CAR 1, CAR 2, CAR 3) were required in the verification report, indicating unresolved compliance issues at the time of verification
- Leakage justification is inconsistent across documents: the 2024 verification report states leakage was 'quantified' while the 2023 report states it was 'deemed negligible', yet the deduction is 0% in both cases
- Buffer pool percentage decreased from 15% (2023 verification) to 12% (2024 verification), suggesting a downward revision of the non-permanence risk rating without clear explanation
- CORSIA eligibility and CCP status are not stated in any available document, leaving dual-channel risk unassessed
Credit Vintages
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2018 | 4,978 | 4,978 | 0 | |
| 2019 | 9,365 | 7,629 | 1,736 | |
| 2020 | 11,216 | 11,214 | 2 | |
| 2021 | 39,146 | 39,146 | 0 | |
| 2022 | 29,347 | 27,879 | 1,468 | |
| Total | 94,052 | 90,846 | 3,206 |
Risk Indicators
Combined test, VVB-confirmed
12% buffer, no reversals
0% deduction, inconsistent justification
Project-specific, not yet due for reassessment
FPIC, grievance mechanism documented
CORSIA and CCP status not stated
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