Afforestation of Degraded Grasslands in Vichada, Colombia
#20of 80 in ARR (afforestation)#56of 124 in Colombia#691of 1339 in Verra (VCS)#32of 97 in AR-ACM0003
Audit Analysis
This VCS afforestation project in Vichada, Colombia, has a confirmed additionality test and a 17% buffer pool, but is undermined by a serious contradiction on reversal events (reported in the monitoring report yet marked as not addressed in the verification report), an extensive list of 18+ corrective action requests, and a project-specific baseline. The project delivered roughly 71% of its pro-rata ex-ante expectation for the monitoring period, which is conservative but signals under-performance relative to the PDD estimate.
Red Flags
- Reversal events contradiction: the monitoring report (Nov 2024) states reversals were 'reported' while the verification report (Nov 2024) marks them as 'not addressed' — a material discrepancy in non-permanence risk reporting
- 18 Corrective Action Requests and multiple material findings across verification cycles, including ERR calculation inconsistencies, missing LTA ex-post data, and incomplete safeguards reporting
- Low extraction confidence across the document set, meaning at least one key document was poorly readable and some facts may be incomplete
- CORSIA eligibility confirmed while CCP status is not mentioned, creating potential dual-channel crediting risk
Credit Vintages
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2017 | 5,772 | 5,772 | 0 | |
| 2018 | 177,118 | 177,118 | 0 | |
| 2019 | 321,516 | 319,972 | 1,544 | |
| 2020 | 101,077 | 6,282 | 94,795 | |
| 2021 | 63,730 | 51,103 | 12,627 | |
| 2022 | 52,598 | 7,283 | 45,315 | |
| Total | 721,811 | 567,530 | 154,281 |
Risk Indicators
Combined test, VVB-confirmed
17% buffer pool, but reversal events contradiction
0% deduction, justification shifted from 'negligible' to 'quantified'
Project-specific, reassessed 2023, not yet due for 10-yr review
FPIC conducted, grievance mechanism present
CORSIA-eligible, CCP status not stated
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