RE&UP BOTTLE PET RECYCLED CHIPS, FLAKES & NEXT-GEN T2T PET RECYCLED CHIPS PRODUCTION

Audit Analysis

A VCS waste-handling project in Turkey producing recycled PET chips, verified by Control Union with a combined additionality test confirmed by the VVB. The project is conservative in its first-year delivery (approximately 18.5% of the pro-rata lifetime expectation), but carries moderate concerns around a project-specific baseline, three material findings with one pending corrective action, and an unresolved contradiction on whether Free, Prior and Informed Consent was conducted. Several key MRV parameters (FNRB, usage rates, CORSIA/CCP status) are not stated in the available documents.

Project Description

Red Flags

• ⚠FPIC status is contradictory: the validation report (Feb 2025) records it as not conducted, while the later PDD (Oct 2025) records it as conducted — the VVB's assessment at validation time should be treated as authoritative until clarified.
• ⚠Three material findings were raised during verification, including that the PDMR did not sufficiently demonstrate the modification of the Gneuss recycling system for additionality, and a corrective action to re-evaluate the risk assessment remains open.
• ⚠The first-year verified ERR of 5,973 tCO₂e represents only about 18.5% of the pro-rata expectation derived from the PDD's lifetime estimate of 322,546 tCO₂e over 10 years, raising questions about the robustness of the ex-ante baseline assumptions.
• ⚠Leakage justification is inconsistent: the monitoring report describes it as 'quantified' while the validation report describes it as 'deemed negligible,' yet both documents apply a 0% deduction.

Credit Vintages

No issuances recorded on the registry.