The Hyundai Waste Energy Recovery Co-Generation Project Phase II
#127of 1329 in Industrial#5of 24 in South Korea#289of 1339 in Verra (VCS)#6of 28 in ACM0012
Audit Analysis
A waste-energy-recovery co-generation project in Korea that displaces flared waste gas and grid electricity, with VVB-confirmed additionality and no applicable permanence risk. The project over-delivers relative to its ex-ante estimate, but numerous documentation gaps, corrective actions, and a project-specific baseline moderate confidence. Low extraction confidence and multiple report inconsistencies reduce transparency and documentation scores.
Red Flags
- 16 corrective actions required across monitoring and verification reports, including inconsistent emission factors, missing calibration dates, and unit mismatches (M3 vs Nm3 for LNG)
- Verification report referenced VCS v3.7 instead of the applicable v4.0, and project title was inconsistent between monitoring and verification reports
- Low extraction confidence across 15 documents, indicating at least one key document was poorly readable or incomplete
- CORSIA eligibility and CCP status are not stated in any available document, leaving dual-channel risk unassessed
Credit Vintages
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2013 | 421,804 | 419,285 | 2,519 | |
| 2014 | 1,517,196 | 1,517,196 | 0 | |
| 2015 | 1,632,344 | 1,080,402 | 551,942 | |
| 2016 | 1,639,757 | 1,639,757 | 0 | |
| 2017 | 1,533,573 | 756,480 | 777,093 | |
| 2018 | 488,332 | 0 | 488,332 | |
| Total | 7,233,006 | 5,413,120 | 1,819,886 |
Risk Indicators
VVB-confirmed combined test; IRR below benchmark
Not AFOLU; non-permanence risk not applicable
0% deduction; methodology-based justification only
Project-specific; no reassessment date recorded
Grievance mechanism present; FPIC not stated
CORSIA and CCP status not stated
Where to buy
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