Tradewater International Dominican Republic

Audit Analysis

This is a one-time ODS destruction project (VM0016) in the Dominican Republic with inherently low permanence and leakage risk, and VVB-confirmed additionality. However, the verification report identified five material findings including incorrect GWPs, a missing eligible substance (R-115), and erroneous T&D factors, indicating significant calculation and documentation weaknesses in the project design. The PDD's initial ERR claim of 40,000 tCO₂e was reduced to 23,656.86 tCO₂e upon verification, suggesting the initial overstatement was caught, but the underlying calculation errors raise residual accuracy concerns.

Project Description

Red Flags

• ⚠Five material findings in the verification report, including failure to use AR5 GWPs as required by VCS Standard 4.1, omission of eligible R-115 from ER calculations, and incorrect T&D default factors for R-12 and R-114
• ⚠PDD claims 40,000 tCO₂e while the validation report and monitoring report both state 23,656.86 tCO₂e — a 41% overstatement in the preliminary document
• ⚠Leakage justification is inconsistent between documents: the monitoring report describes it as 'quantified' while the validation report characterises it as 'deemed negligible', despite a 0% deduction in both
• ⚠CORSIA eligibility and CCP status are not stated in any available document, leaving dual-channel risk unassessed

Credit Vintages