Urstamm Grouped Project IFM Switzerland & Pilot Project Kelleramt

Audit Analysis

A new Swiss forestry sequestration project (ICR-315) with VVB-verified additionality and a 10% buffer pool, but significant concerns around a 0% leakage deduction justified only as 'deemed negligible' for a REDD-type project, an open corrective action regarding potential double-counting with 'Senke Schweizer Holz,' and the absence of any monitoring or verified emission reduction data to date. The project is in its early crediting phase (started January 2023), so the lack of monitoring data is expected, but the leakage treatment and double-counting risk warrant caution.

Project Description

Red Flags

• ⚠Open corrective action requires evidence that HWP credits are not double-counted with 'Senke Schweizer Holz' — a material integrity risk if unresolved
• ⚠0% leakage deduction justified as 'deemed negligible' in the validation report, while the methodology document (2025-09-15) apparently called for quantification — inconsistent treatment for a REDD/sequestration project where demand substitution and displacement are plausible
• ⚠FPIC not conducted, despite the project involving land-use change in a community context
• ⚠No verified emission reduction data exists yet (no monitoring period reported), so all claims remain ex-ante estimates

Credit Vintages