Orca plant
Audit Analysis
Climeworks Orca is a well-known direct-air-capture project in Iceland with VVB-confirmed additionality and quantified leakage, but the verification record reveals 11 material findings, 6 required corrective actions, a small reversal event, no buffer pool, and no grievance mechanism. The project is CORSIA-eligible with unknown CCP status, creating a residual double-claim risk. Overall, the project is functional but carries moderate data-quality and permanence concerns that prevent a higher rating.
Red Flags
- 11 material findings in the latest verification report, including incorrect emission factors in prior CDR reports, sorbent usage discrepancies, and missing CO2 metering uncertainty
- No buffer pool or permanence risk mitigation stated in any available document for a geological storage project
- CORSIA-eligible with CCP status not stated, leaving the double-claim pathway unresolved
- Grievance mechanism reported as absent in the most recent verification (Dec 2025), reversing an earlier positive finding
- ERR figure dropped from 357.636 to 205.031 tonnes between the Dec 2025 and Jan 2026 verification reports, indicating a 42.7% downward correction after emission-factor errors were identified
Credit Vintages Exhausted
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2024 | 876 | 876 | 0 | |
| 2025 | 542 | 542 | 0 | |
| 2026 | 205 | 205 | 0 | |
| Total | 1,623 | 1,623 | 0 |
Risk Indicators
VVB-confirmed investment test
Small reversal reported, no buffer pool
Quantified per latest verification
Project-specific baseline
Safeguards mentioned but no grievance mechanism or FPIC
CORSIA-eligible, CCP status unknown
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