Proyecto Mirador Enhanced Distribution of Improved Cookstoves in Latin America

Audit Analysis

Proyecto Mirador is a Gold Standard cookstove project in Honduras with a solid combined additionality test verified by an independent VVB and a quantified 4.7% leakage deduction. However, the absence of a buffer pool for permanence in a project where stoves can be abandoned or broken, combined with a shift in FNRB methodology between crediting periods and a contradiction in the leakage treatment, introduces moderate risk. The project delivered roughly 75% of its pro-rata ex-ante expectation for the monitored period, which is within a reasonable range for this technology.

Project Description

Red Flags

• ⚠No buffer pool or permanence mechanism identified for a cookstove project where stoves can be abandoned, broken, or replaced with traditional fogones, creating unaddressed reversal risk
• ⚠Leakage deduction contradicts between documents: the 2019 verification report records a quantified 4.7% deduction, while a 2023 document shows 0%, raising questions about whether leakage is still being accounted for in the second crediting period
• ⚠FNRB methodology shifted from local field measurement (2019 verification report) to national default (2023 validation report), potentially weakening the emission factor basis for the second period

Credit Vintages