Guangdong Xinsheng E-waste recovery and recycling project

Audit Analysis

This e-waste recycling project under VCS AMS-III.BA has a VVB-verified investment additionality test, but the verification report identified eight material findings including calculation errors, missing baseline evidence, and uncalculated project emissions that significantly undermine confidence in the verified credit quantity. The project delivered roughly half of its pro-rata expectation for the monitoring period, which is conservative, but the weak leakage treatment and project-specific baseline with missing supporting evidence limit overall integrity.

Project Description

Red Flags

• ⚠Eight material findings in the verification report, including an IRR calculation error that undermines the additionality test and missing evidence that the baseline recycling rate is ≤ 20%
• ⚠Project emissions from coke consumption were not calculated, meaning the verified ER of 35,710 tCO₂e may be overstated
• ⚠Leakage deduction of 0% with no substantive justification in the verification report (contradicted by the validation report's 'deemed negligible' claim)
• ⚠Bi correction factors in the ER calculation were found to be inconsistent with the methodology, raising questions about the accuracy of the verified figure

Credit Vintages