CO2 UTILIZATION IN CONCRETE - REMOVALS & REDUCTIONS – CarbonCure – Asia #1

Audit Analysis

CarbonCure's Singapore CO2-in-concrete project has a VVB-verified additionality assessment and no reversal events, but suffers from significant gaps in permanence verification (no independent storage confirmation, no carbon content testing, no end-use tracking) and a contradictory leakage treatment. The project delivered only ~46% of its pro-rata ex-ante expectation for the 2023 monitoring period, reducing over-crediting risk but raising questions about baseline calibration. Multiple internal contradictions in the document set, particularly within the verification report itself, undermine data reliability.

Project Description

Red Flags

• ⚠The verification report (2025-09-08) contains two different verified ERR figures (39,181 and 21,818) for the same monitoring period, an unexplained internal inconsistency that undermines data reliability
• ⚠Leakage treatment is contradictory: the verification report states leakage was 'not addressed' while the monitoring report (2025-08-21) claims it was 'deemed negligible' — a 0% deduction without a consistent, documented justification
• ⚠No independent verification of CO2 storage in the concrete, no carbon content testing, and no end-use tracking — critical gaps for a CO2 utilization project where permanence depends on the integrity of the mineralized product

Credit Vintages