PROYECTO REDD+ PAZCÍFICO SUR

Audit Analysis

The REDD+ Pazcífico Sur project has a sound structural design with VVB-verified additionality, a jurisdictional baseline, a 20% buffer pool, and no reported reversals. However, 34 verification findings (25 corrective actions) and multiple cross-document contradictions in baseline method, buffer pool percentage, and ERR figures significantly erode confidence in the data's internal consistency. The project over-delivered relative to its pro-rata ex-ante expectation, which is positive for claim safety, but several key transparency fields remain unreported.

Project Description

Red Flags

• ⚠34 verification findings (25 SAC, 7 SA, 2 SAF) spanning cartography errors, rounding inconsistencies in GHG calculations, plot location bias, and unclear benefit-sharing contracts — all corrected but indicating weak initial documentation quality
• ⚠Contradiction in baseline method: the verification report (Nov 2023) states 'jurisdictional' while the monitoring report (Aug 2023) states 'project', creating ambiguity about the actual baseline approach
• ⚠Contradiction in buffer pool: 20% in the November 2023 verification report versus 12.5% in the August 2023 verification report — a 6-percentage-point discrepancy in a key permanence safeguard
• ⚠Contradiction in total ERR claimed: the validation report (Aug 2023) lists 10,738,354 tCO2e while the issuance document (Aug 2023) records 3,671,289 tCO2e — a nearly 3× difference that is not explained in the extracted record
• ⚠Leakage deduction percentage is not stated in any available document despite the justification being described as 'quantified'

Credit Vintages