SHINE - Distribution of LED lightbulbs in India-7

Audit Analysis

SHINE-7 is a VCS LED distribution project in India with a VVB-verified investment additionality test and no reported reversals, but it carries moderate risk from a project-specific baseline, a 0% leakage deduction justified only as 'quantified' without a visible calculation, and a notable contradiction between the verification report and the VVB Agreement. Multiple corrective actions (13+) and a small end-user interview sample weaken confidence in the monitoring data, while the absence of CORSIA/CCP status and a crediting-period discrepancy between the PDD and the verification report leave residual over-crediting and double-claiming uncertainty.

Project Description

Red Flags

• ⚠The verification report contains a statement that contradicts the VVB Agreement / Validation Representation, and the VVB was required to remove it (CAR in the verification report).
• ⚠Crediting period differs between the PDD (2018-08-12 to 2028-08-11) and the verification report (2021-12-14 to 2031-12-13), creating ambiguity about the valid project duration.
• ⚠Leakage deduction is 0% with the justification described as 'quantified' in the verification report but 'deemed negligible' in the monitoring report; no explicit quantification or calculation is visible in the extracted record.
• ⚠End-user interview sample size was flagged as small in the material findings, weakening the reliability of the verified usage rate of 2,868.9 hours.
• ⚠CORSIA eligibility and CCP status are not stated in any available document, leaving double-claiming risk unassessed.

Credit Vintages