Improved Cooking Stoves in Bangladesh – CPA No.19 “SZ Consultancy Services Ltd.”

Audit Analysis

This Gold Standard improved cooking stove project in Bangladesh reports a reasonable delivery rate (~96% of pro-rata expectation) and quantified 5% leakage, but is undermined by a large volume of material findings (17), eight corrective actions, and fourteen cross-document contradictions. The most serious integrity concerns are the absence of VVB-confirmed additionality in the latest verification report, a direct contradiction on whether FPIC was conducted, and the lack of any buffer pool. CORSIA eligibility is explicitly conditional, adding dual-channel risk.

Project Description

Red Flags

• ⚠Additionality was not confirmed by the VVB in the 2024 verification report, directly contradicting the 2022 verification report; the additionality test type is not stated in any available document
• ⚠FPIC contradiction: the PDD (2022) records FPIC as conducted, while the 2024 verification report records it as not conducted
• ⚠Fourteen contradictions between documents span leakage treatment, FNRB value, ERR figures, CORSIA status, usage monitoring method, and crediting period dates
• ⚠CORSIA eligibility is conditional — the verification report states 'Issued GSVERs will not be marked CORSIA eligible until further notice', creating dual-channel risk
• ⚠No buffer pool is in place to cover potential reversals or under-delivery

Credit Vintages