Grouped Projects for Viet Nam Cookstove Program – Phase 2

Audit Analysis

A VCS cookstove project with verified additionality and quantified leakage, but undermined by 33 material findings (including the validation report misdescribing the project as water filtration), a 4× over-delivery relative to the pro-rata ex-ante expectation, and multiple cross-document contradictions on fNRB and lifetime ERR. The core MRV chain is intact, yet the volume of documentation errors and the unexplained credit surplus raise meaningful concerns about baseline robustness and data reliability.

Project Description

Red Flags

• ⚠Verified ERR of 116,737 is approximately 418% of the pro-rata ex-ante expectation (~27,942) for the 8-month monitoring period, suggesting the baseline or ex-ante estimate may be mis-specified
• ⚠33 material findings reported in the verification report, including the validation report describing the project as water filtration rather than cookstoves and inconsistencies in ICS distribution counts between the MR and ER spreadsheet
• ⚠fNRB value contradicts between the verification report (0.6522, national default) and the PDD (0.9403, local field), a 44% difference that materially affects credit volume
• ⚠33 corrective actions remain open, spanning outdated VCS templates, missing KML files, and uncorrected parameter names in the ER spreadsheet

Credit Vintages

No issuances recorded on the registry.