GS12215 GS12216 RVPA-1 Improved cookstoves and healthy lives in Nepal – VPA 2

Audit Analysis

A Gold Standard improved cookstove project in Nepal with verified additionality (investment test) and a quantified 5% leakage deduction, but weakened by a project-specific baseline, absence of a stated buffer pool, unaddressed reversal risk, and a 10.22% variance between initial and final emission reductions that exceeded the materiality threshold. The first monitoring period delivered approximately 88% of the pro-rata expectation, indicating modest under-delivery. Multiple contradictions between documents—particularly on crediting period length and monitoring method—reduce confidence in the data record.

Project Description

Red Flags

• ⚠10.22% variance between initial ER estimate (9,586 tCO₂e) and final verified value (8,607 tCO₂e) exceeded the 10% materiality threshold per GS VVS paragraph 9.6.3, as noted in the verification report
• ⚠Crediting period contradiction: the validation report (Feb 2025) states a 15-year period (2023-06-13 to 2038-06-12) while the monitoring report (Nov 2025) states a 5-year period (2023-10-06 to 2028-10-05); the more recent monitoring report is privileged but the discrepancy is unresolved
• ⚠Buffer pool percentage is not stated in any available document, and reversal events are explicitly marked as not addressed, leaving permanence risk unquantified for a cookstove project where household reversion is a known risk
• ⚠Multiple findings raised during verification: two FARs, two CLs, and one CAR, including a requirement to establish a procedure to avoid double counting of VPAs across registries

Credit Vintages