Improved Cooking Stoves in Bangladesh – CPA No.15 “SZ Consultancy Services Ltd.”

Audit Analysis

This Gold Standard improved cooking stove project in Bangladesh shows a reasonable pro-rata delivery rate (~96% of the expected emissions reductions for the elapsed monitoring period) and a quantified 5% leakage deduction, but is significantly undermined by the 2024 verification report's finding that additionality was not confirmed by the VVB, the absence of a buffer pool, a contradiction on FPIC status, and an extensive list of material findings and corrective actions spanning data quality, missing documentary evidence, and reporting inconsistencies.

Project Description

Red Flags

• ⚠The 2024 verification report states additionality was NOT verified by the VVB, directly contradicting the 2022 verification report which confirmed it — the most recent and authoritative document is privileged, leaving the project's core additionality claim unconfirmed.
• ⚠FPIC is recorded as not conducted in the 2024 verification report, contradicting the 2022 PDD which states it was conducted — a fundamental free, prior, and informed consent gap for a household-level project.
• ⚠The 2024 verification report lists 18 material findings and 13 corrective actions, including missing sales receipts, training certificates, operation manuals, and inconsistencies in ER spreadsheet formulae, SDG parameter reporting, and survey data.
• ⚠CORSIA eligibility is flagged as true in the 2024 verification report, yet a material finding states 'Issued GSVERs will not be marked CORSIA eligible until further notice,' creating uncertainty about the credit's actual market eligibility.

Credit Vintages