Zhejiang Hengxin PET Recycling Project

Audit Analysis

The Zhejiang Hengxin PET Recycling Project is a VCS-registered waste recycling project with a VVB-confirmed investment additionality test and reasonable safeguards, but it carries significant documentation concerns: 19 material findings in the validation report, a 23% discrepancy in lifetime ERR between the PDD and the validation report, and a contradictory leakage justification. The project-specific baseline, absence of a stated buffer pool, and multiple unresolved corrective actions temper confidence in the credit's robustness.

Project Description

Red Flags

• ⚠19 material findings in the validation report (2025-05-01), including errors in IRR calculation, baseline emission formula, project boundary definition, and geographic coordinates — indicating the project description was not fully sound at validation
• ⚠Lifetime ERR discrepancy of ~23% between the PDD (387,772 tCO₂e) and the validation report (296,227 tCO₂e), with the PDD figure being higher
• ⚠Leakage justification contradicts between documents: the PDD describes leakage as 'quantified' while the validation report states it is 'deemed negligible' with a 0% deduction
• ⚠Monitoring period, FNRB method, and usage monitoring method are all absent from the extracted record

Credit Vintages

No issuances recorded on the registry.