CARBONO GRESCO2
#41of 80 in ARR (afforestation)#101of 124 in Colombia#76of 99 in CerCarbono (CC)
Audit Analysis
CARBONO GRESCO2 is a Colombian forestation project (1,971 ha of Pinus species) verified under the CerCarbono carbon-tax offset mechanism. While it features a 15% buffer pool, a VVB-confirmed investment additionality test, and FPIC, the project is burdened by 14 outstanding corrective actions, an unresolved nonconformity from a prior verification, measurement-quality issues (trees outside plot boundaries, POM irregularities), and a potential independence conflict where the recorded verification body (ProOriente SAS) is simultaneously a project proponent. The ERR figures are internally consistent for the current period but the PDD contains contradictory lifetime estimates, and the inclusion of Eucalyptus in calculations (flagged for removal) raises over-crediting concerns.
Red Flags
- The recorded verification body (ProOriente SAS) is also listed as a project proponent and representative, raising a serious independence concern; the actual audit was performed by ICONTEC, but the data extraction conflates the two roles.
- 14 corrective actions remain required, including removal of Eucalyptus trees from calculations, restructuring of the information management system, and standardisation of the monitoring protocol — indicating systemic process weaknesses.
- One nonconformity (SAF) from Verification No. 1 regarding ICA certificate processing remains unresolved, and a second SAF was raised in the current verification for the same issue.
- Reversal events are contradictory across documents: one verification report (June 2023) records reversals as 'reported' while the later report (July 2023) states they are 'not addressed', leaving the permanence risk unresolved.
- The PDD contains two different estimated removals values (336,498 vs 540,225 tCO2e), a 60% discrepancy that undermines confidence in the ex-ante baseline.
Credit Vintages
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2010 | 8 | 0 | 8 | |
| 2011 | 199 | 0 | 199 | |
| 2012 | 636 | 0 | 636 | |
| 2013 | 1,507 | 0 | 1,507 | |
| 2014 | 2,756 | 0 | 2,756 | |
| 2015 | 3,978 | 0 | 3,978 | |
| 2016 | 4,912 | 0 | 4,912 | |
| 2017 | 185 | 0 | 185 | |
| 2018 | 702 | 0 | 702 | |
| 2019 | 5,408 | 0 | 5,408 | |
| 2020 | 13,610 | 0 | 13,610 | |
| 2021 | 13,570 | 0 | 13,570 | |
| 2022 | 6,541 | 0 | 6,541 | |
| Total | 54,012 | 0 | 54,012 |
Risk Indicators
Investment test confirmed but VVB independence in question
15% buffer pool present but reversal events unresolved
0% deduction, deemed negligible, thin justification
Project-specific baseline, no FNRB value, PDD estimates contradictory
FPIC conducted but grievance mechanism and benefit sharing undocumented
CORSIA and CCP status not stated; dual-channel risk unassessed
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