Jeffries Group

Audit Analysis

The Jeffries Group biochar project (Puro, Australia) has a confirmed investment-test additionality and a 2.5% buffer pool, but the verification report identified six material findings including incorrect emission factors and calculation errors requiring twelve corrective actions. The project over-delivered relative to its own claim (297 verified vs 284 claimed tCO₂e), which is positive for claim safety, but the absence of any leakage treatment, a project-specific baseline, and missing FNRB/usage-rate data leave meaningful gaps in the MRV chain.

Project Description

Red Flags

• ⚠Six material findings in the 2024 verification report, including use of the wrong state electricity emission factor (Western Australia instead of South Australia) and incorrect LCA boundaries for Eproduction and Euse, with twelve corrective actions still required
• ⚠No leakage deduction or justification stated anywhere in the extracted record for a biochar removal project with a 100-year permanence claim
• ⚠Buffer pool of only 2.5% against a 100-year permanence claim, with no reversal events data to confirm permanence risk is managed
• ⚠Two contradictions between documents: safeguards were not mentioned in the 2022 verification report but are in the 2024 report; carbon content testing is confirmed in the verification report but contradicted by the issuance record

Credit Vintages Exhausted