Isorka: Electric Vehicle Charging in Iceland
#350of 1339 in Verra (VCS)#4of 15 in VM0038
Audit Analysis
The Isorka EV charging project in Iceland has a solid additionality assessment confirmed by RINA Services and a reasonable leakage treatment, but the verified emissions reductions for the 2.5-year monitoring period represent only about 13% of the pro-rata lifetime expectation from the PDD, raising serious questions about baseline validity. The absence of a stated buffer pool and the project-specific (non-jurisdictional) baseline further weaken the integrity profile. Overall, the project is conservative in its actual credit issuance but carries meaningful design-level uncertainty.
Red Flags
- Verified ERR of 12,514 tCO2e for the 2.5-year monitoring period is only ~13% of the pro-rata expectation (~93,862 tCO2e) derived from the PDD lifetime estimate of 375,449 tCO2e over 10 years, suggesting the baseline may have been substantially over-optimistic
- Baseline is project-specific rather than jurisdictional, and the large gap between PDD and verified figures undermines confidence in the baseline methodology
- CORSIA eligibility and CCP status are both not stated in the extracted record, leaving dual-channel risk unassessed
Credit Vintages
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2021 | 2,220 | 2,220 | 0 | |
| 2022 | 4,867 | 1,865 | 3,002 | |
| 2023 | 5,427 | 0 | 5,427 | |
| Total | 12,514 | 4,085 | 8,429 |
Risk Indicators
VVB-confirmed combined test
reversal marked N/A
0% deduction, deemed negligible
Project-specific; ~13% pro-rata delivery
Grievance mechanism present; FPIC not conducted
CORSIA and CCP status not stated
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