GS1354 Vietnam Small Hydro PoA - Nam Chim 1A Hydropower Project

Audit Analysis

A small hydro project under Gold Standard with a well-supported investment additionality test (IRR 8.62% below the 11.42% benchmark) and a jurisdictional baseline reassessed in 2020. The project is an avoidance-type credit with no reversal risk and a reasonable 0% leakage deduction for grid-displacing generation. Key transparency gaps remain: the verified ERR for the 2024 monitoring period was not found in the extracted record, and the FNRB and usage-monitoring method are not stated.

Project Description

Red Flags

• ⚠Verified ERR for the 2024 monitoring period is not present in the extracted record, preventing an independent over-crediting check
• ⚠Seven-fold discrepancy in total ERR claimed between the 2020 validation report (13,402 tCO2) and the 2020 PDD (93,814 tCO2) raises data-reliability questions
• ⚠FNRB value and method are not stated in any available document, leaving the non-renewable-burden allocation unverified
• ⚠34 corrective action requests were raised during validation, including inconsistencies in the grid emission factor and missing monitoring parameters (all closed, but the volume signals a less-than-clean validation process)

Credit Vintages

Issuance data not yet available — check back soon.