Selco Clean Energy Products Grouped Project

Audit Analysis

The Selco grouped project (LED lighting, solar water heating, solar PV) in India is a registered VCS project with VVB-confirmed additionality and a reasonable monitoring framework, but is undermined by a 0% buffer pool, a project-specific baseline with an unresolved method contradiction, FPIC not conducted, and a low extraction confidence across 25 source documents. The verified ERR matches the claimed figure for the 2019–2022 monitoring period, but the absence of a lifetime ex-ante estimate and multiple data inconsistencies limit confidence in the overall credit volume.

Project Description

Red Flags

• ⚠Buffer pool is 0% with no permanence risk mitigation beyond the project's renewable-energy character; no explicit reversal-risk analysis in the verification report
• ⚠Baseline method is contradictory: the verification report (Dec 2024) states 'project' while the monitoring report (Apr 2020) states 'jurisdictional' — the more recent VR is privileged, but the discrepancy weakens baseline confidence
• ⚠FPIC was not conducted (stated as false in the verification report), and benefit-sharing is described as absent in the most recent verification report, creating a safeguards gap
• ⚠Minimum extraction confidence is rated 'low', meaning at least one key document was poorly readable, reducing reliability of the extracted record
• ⚠13 Corrective Action Requests were raised during verification (including double-counting prevention, sole-claim evidence, and data-recording gaps), indicating material data-quality issues that had to be remediated

Credit Vintages