Mangrove Restoration Project with Sine Saloum and Casamance communities, Senegal

Audit Analysis

This mangrove restoration project in Senegal carries an extremely heavy burden of unresolved compliance failures, including 22 corrective action requests, failed WRC and leakage compliance, and significant ERR discrepancies across documents. While it holds a 13% buffer pool and VVB-confirmed additionality, the absence of any verified monitoring data, the project-specific baseline, and the severity of the material findings make it a high-risk credit. The low extraction confidence and contradictory records across documents further undermine confidence in the project's integrity.

Project Description

Red Flags

• ⚠22 Corrective Action Requests and 13 Clarification Requests raised during validation, including failures to demonstrate compliance with WRC requirements, leakage requirements, and evidence that native ecosystems would not be converted
• ⚠ERR discrepancy: the PDD (2022) states a lifetime ex-ante estimate of 2,864,109 tCO₂e, while the validation report (2025) states 1,434,826 tCO₂e — a factor-of-two gap that is unexplained
• ⚠Leakage was deemed negligible in the validation report, yet the material findings explicitly state the project 'fails to demonstrate compliance with leakage requirements'
• ⚠No verified ERR figure exists in any available document; total_err_verified is not stated, making it impossible to confirm actual delivery against the claimed 1,434,826 tCO₂e
• ⚠The earlier issuance document (2023) recorded additionality as NOT verified by the VVB, directly contradicting the 2025 validation report which records it as verified

Credit Vintages

No issuances recorded on the registry.