Hanbao Agricultural Renewable Energy Project

Audit Analysis

The Hanbao Agricultural Renewable Energy Project is a Gold Standard biogas project in Taiwan verified by TÜV NORD CERT, with a VVB-confirmed combined additionality test and a project-specific baseline. However, the verification report lists over 30 material findings and 27 corrective actions spanning meter calibration, project boundary, baseline description, additionality argument, and sustainability monitoring, and eight cross-document contradictions undermine confidence in the underlying data. The project delivered roughly 92% of its pro-rata ex-ante expectation for the elapsed monitoring period, which is within a reasonable range, but the absence of a buffer pool, a 0% leakage deduction with contradictory justifications, and a grid emission factor frozen at a 2010 value leave meaningful residual risk.

Project Description

Red Flags

• ⚠Over 30 material findings in the verification report cover meter information, calibration, project boundary, baseline scenario, additionality argument, and sustainability monitoring, with 27 corresponding corrective actions still required
• ⚠Eight contradictions across the PDD, monitoring report, and verification report affect the baseline method, lifetime ERR, grid emission factor, additionality test type, leakage justification, and crediting period start date
• ⚠No buffer pool is in place and no permanence mechanism is documented, leaving the project exposed to reversal risk from equipment failure or early closure
• ⚠Leakage deduction is 0% yet the verification report calls the justification 'quantified' while the monitoring report calls it 'deemed negligible' — an internal inconsistency that weakens the leakage treatment
• ⚠The grid emission factor of 0.69 tCO₂e/MWh is anchored to 2010 data and has not been updated in the monitoring report, potentially over- or under-estimating baseline emissions

Credit Vintages