Bundled fossil fuel switching to NG(natural gas) project in Gyeonggi-do, Republic of Korea
#236of 1329 in Industrial#9of 24 in South Korea#524of 1459 in CDM (UNFCCC)
Audit Analysis
A straightforward CDM fuel-switching project (coal/oil to natural gas) in South Korea using the standardised AMS-III.B methodology, with additionality confirmed via an investment test by KEMCO. The validation report identified five corrective actions and one comment letter, indicating meaningful quality issues in the initial PDD that were subsequently addressed. The first monitoring period shows delivery close to pro-rata expectations, but several key parameters (FNRB, usage rates, buffer pool) are not stated in the available record.
Red Flags
- Five corrective actions and one comment letter were raised during validation, including NPV calculation errors, unclear monitoring methods, and missing policy analysis in the investment test
- The VVB (KEMCO) is a Korean government agency, raising independence concerns for the validation and verification process
- Project-specific baseline with no documented reassessment; baseline robustness relies entirely on the initial PDD assumptions
Credit Vintages
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2012 | 6,290 | 0 | 6,290 | |
| Total | 6,290 | 0 | 6,290 |
Risk Indicators
Investment test confirmed by VVB
mixed evidence / unresolved risk
0% deduction, justified as negligible
Project-specific, no reassessment recorded
Mentioned but FPIC and grievance mechanism not detailed
CORSIA and CCP status not stated
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