Foz Do Chapecó Project
#1235of 1935 in Renewable energy#113of 211 in Brazil#844of 1339 in Verra (VCS)#958of 1287 in ACM0002
Audit Analysis
Foz do Chapecó is a large-scale hydroelectric avoidance project with confirmed additionality and reasonable safeguards, but it is undermined by significant data-quality issues (meter calibration lapses, eight corrective actions), a major grid emission-factor discrepancy between the PDD and monitoring report, and a baseline-method contradiction across documents. The project over-delivered relative to its ex-ante estimate, which is reassuring, yet the low extraction confidence and unresolved contradictions limit confidence in the verified figures.
Red Flags
- Grid emission factor differs by nearly a factor of two between the PDD (0.1901 tCO₂/MWh) and the monitoring report (0.363 tCO₂/MWh), directly affecting the credit calculation.
- Baseline method is described as 'project-specific' in the 2012 verification report but 'jurisdictional' in the 2021 monitoring report — a fundamental methodological inconsistency.
- Eight corrective actions were raised by the VVB, including meter calibration gaps, data mismatches with CCEE records, and missing calibration certificates, indicating weak MRV data integrity.
- The PDD (dated 2022-10-31) reports a claimed ERR of 7,115,229 tCO₂e while the verification report (2022-01-18) reports 12,450,836 tCO₂e verified — a 75% discrepancy that is not explained by period length alone.
- Minimum extraction confidence is rated 'low', meaning at least one key document was poorly readable, reducing reliability of the extracted record.
Credit Vintages
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2010 | 148,323 | 140,885 | 7,438 | |
| 2011 | 980,488 | 943,687 | 36,801 | |
| 2012 | 741,403 | 219,503 | 521,900 | |
| 2013 | 419,133 | 51,645 | 367,488 | |
| 2014 | 10,000 | 0 | 10,000 | |
| 2015 | 10,000 | 0 | 10,000 | |
| 2016 | 10,000 | 0 | 10,000 | |
| 2017 | 10,000 | 0 | 10,000 | |
| 2018 | 400,000 | 8,640 | 391,360 | |
| 2019 | 1,013,000 | 1,005,192 | 7,808 | |
| 2020 | 29,801 | 20,301 | 9,500 | |
| Total | 3,772,148 | 2,389,853 | 1,382,295 |
Risk Indicators
VVB-confirmed investment/combined test
Avoidance project – no reversal risk
0% deduction, quantified, reasonable for hydro
Project-specific; method contradicted across docs
FPIC, grievance mechanism, safeguards documented
CORSIA and CCP status not stated
Where to buy
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