Up Energy Improved Cookstoves Programme, Uganda – CPA No 012

Audit Analysis

The Up Energy cookstove project in Uganda presents a mixed picture: it operates under a recognised Gold Standard methodology with an active VVB and recent monitoring, but the most recent verification report (August 2025) no longer confirms additionality, the leakage deduction has dropped to a very low 0.95%, and the assumed usage rate of 100% significantly exceeds the verified 83.79%. Numerous material findings, unresolved corrective actions, and contradictions across documents undermine confidence in the integrity and accuracy of the claimed emissions reductions.

Project Description

Red Flags

• ⚠Additionality is NOT confirmed by the VVB in the most recent verification report (Aug 2025), directly contradicting the September 2023 verification that had confirmed it
• ⚠Leakage deduction dropped from 5% (Jan 2025 report) to 0.95% (Aug 2025 report) with no clear justification for the change
• ⚠Usage rate assumed at 100% in the ex-ante design versus 83.79% verified in monitoring, creating an approximately 16% over-crediting exposure
• ⚠No buffer pool or permanence mechanism is documented for a project type (cookstoves) with inherent reversal risk from stove failure or replacement
• ⚠FPIC status is contradicted: the validation report (Feb 2025) states it was conducted, while the verification report (Aug 2025) states it was not

Credit Vintages