Sequoia Improved cookstoves project in Togo

Audit Analysis

The Sequoia cookstove project in Togo has a VVB-confirmed investment additionality test and a quantified 5% leakage deduction, but is undermined by 27 material findings, 21 corrective actions, and multiple cross-document contradictions on key parameters (fNRB value, fNRB method, additionality test type). The project delivered only about 7% of its pro-rata ex-ante expectation for the first monitoring period, which is conservative but raises questions about the original estimate's accuracy. The 90% usage rate remains unverified, and CORSIA/CCP eligibility is not stated.

Project Description

Red Flags

• ⚠27 material findings and 21 corrective actions (4 CARs, 11 CLs) indicate significant data quality and documentation issues across the verification cycle
• ⚠fNRB value reported as 74.2 in the verification report but 0.742 in the monitoring report — a 100× discrepancy that, even if a unit error, signals poor internal consistency
• ⚠Additionality test type is 'investment' in the verification report but 'combined' in the PDD, and fNRB method is 'national_default' in the VR but 'local_field' in the PDD
• ⚠90% usage rate assumed in the ex-ante estimate but not verified in the monitoring report
• ⚠Project delivered only ~7% of the pro-rata ex-ante expectation for the elapsed monitoring period (98,536 vs ~1,457,000 expected), suggesting the lifetime estimate of 5,796,120 tCO₂e may be overly optimistic

Credit Vintages