HFC Decomposition Project in Ulsan

Audit Analysis

This CDM HFC-23 destruction project in South Korea is a straightforward byproduct-destruction activity with inherently low permanence risk, but the validation and monitoring records reveal six material findings and eight corrective actions related to monitoring plan gaps, an outdated GWP value, and methodology applicability issues. The additionality assessment is not explicitly documented in the available records, and the ERR figures across documents require careful reconciliation. Overall, the project is credible in concept but carries moderate documentation and monitoring-plan quality concerns.

Project Description

Red Flags

• ⚠Six material findings reported in the validation report, including missing monitoring parameters (outlet HFC-23, mass balance), missing estimated values, and an outdated GWP value for HFC-23
• ⚠Eight corrective actions required before credit issuance, indicating the monitoring plan was not fully compliant with methodology AM0001 v6.0 at the time of validation
• ⚠Additionality test type and verification status are not documented in the available records, and the activity is not legally required (capture_legally_required = false)
• ⚠ERR figure discrepancy: the validation report states 422,912 tCO2e while the monitoring report states 2,960,384 tCO2e — reconcilable as annual vs. 7-year cumulative, but the inconsistent labeling creates confusion
• ⚠Methodology AM0001 v6.0 applicability was not initially justified properly per the validation report

Credit Vintages