Top Third Ventures Stove Programme CPA KE0008 – BURN Efficient Cookstoves for Kenya supported by Republic of Korea

Audit Analysis

The BURN cookstove CPA in Kenya demonstrates a VVB-verified investment additionality test and a quantified 5% leakage deduction, but is undermined by the absence of a buffer pool, a significant gap between the assumed (0.9) and verified (0.5533) usage rates, and a large number of contradictions across documents—particularly in lifetime ex-ante and verified ERR figures. The extensive list of corrective actions and medium extraction confidence further erode confidence in the data integrity of the credit claims.

Project Description

Red Flags

• ⚠Usage rate assumed at 0.9 in the PDD but verified at only 0.5533 in the 2026 verification report—a 39% shortfall that directly inflates the ex-ante credit estimate relative to actual performance.
• ⚠Two different lifetime ex-ante ERR figures (189,125 tCO₂e and 129,609 tCO₂e) appear in the PDD, creating ambiguity about the true credit ceiling.
• ⚠No buffer pool is in place to cover potential reversals from stove replacement or abandonment, and the verified usage rate gap suggests early replacement is already occurring.
• ⚠FPIC was not conducted per the 2026 verification report, despite the project targeting rural Kenyan households.
• ⚠The 2024 verification report recorded a 0% leakage deduction while the 2026 report records 5%, indicating the leakage treatment was not consistent across reporting periods.

Credit Vintages