Improved Cooking Stoves in Bangladesh – CPA No.20 “SZ Consultancy Services Ltd.”

Audit Analysis

This Gold Standard improved cooking stove project in Bangladesh shows reasonable operational performance, with 2024 verified emissions reductions exceeding the pro-rata ex-ante expectation and a conservative usage-rate assumption. However, the 2024 verification report explicitly states that additionality was not re-verified by the VVB (contradicting the 2023 cycle), multiple material findings flag inconsistencies in thermal efficiency values, ER calculation formulas, and SDG monitoring parameters, and a suite of corrective actions remains open. The project's integrity is further weakened by the absence of a stated buffer pool, a project-specific baseline with no documented reassessment, and the non-conduct of FPIC.

Project Description

Red Flags

• ⚠The 2024 verification report states additionality was NOT verified by the VVB, directly contradicting the 2023 verification report which confirmed it — the more recent 2024 finding is privileged, leaving additionality in an unconfirmed state for the current cycle.
• ⚠Six or more material findings are listed in the 2024 verification report, including inconsistencies in thermal efficiency values between the monitoring report and the PDD, misaligned ER calculation formulas, and missing documentary evidence for WBT testing and performance specifications.
• ⚠A suite of corrective actions remains open, including the requirement to revise the monitoring report to align SDG parameters with the registered PDD, correct thermal efficiency values, and submit photographs of WBT testing.
• ⚠FPIC was not conducted, and the 2020-era documents show safeguards, benefit-sharing, and grievance mechanisms were absent at project inception, only appearing in the 2024 verification report.

Credit Vintages