PACM progress – PACM market infrastructure got a boost Friday as the UNFCCC announced two areas of progress: the entry into force of a multi-year implementation contract to build core elements of both Article 6 registries, and an open comment period for proposed methodology A6.4-PMM006 on fertiliser production with renewables-based ammonia. The digital infrastructure initiative will be led by Trovio, with EY providing support in user experience. The methodology A6.4-PMM006 has been submitted by think tank Perspectives Climate Research, and input will be accepted till Jan. 27. The inaugural project would be a "state-of-the-art renewables-based ammonia-based fertiliser production facility located in Uberaba, Minas Gerais, Brazil", as per the project design document submitted to the UNFCCC.

Nepal has become the first Asian country to sign an agreement with the LEAF Coalition, unlocking up to $55 million in results-based climate finance for forest protection in a major step towards the use of jurisdictional REDD+ credits in international compliance markets.

Taiwan is seeking to accelerate the development of an emissions reduction project through its Article 6 partnership with Paraguay this year, according to the island's environment ministry.

Low-cost, short-haul European airlines are shifting their position away from supporting a possible extension of the EU’s Emissions Trading System (ETS) to international flights, analysis of lobbying activity reveals.

Argentina’s climate homework – A UN technical review published on Thursday indicated that Argentina needs to prioritise capacity-building in two areas to facilitate its Biennial Transparency Report (BTR): estimating expected GHG emission reductions resulting from mitigation policies and measures, and developing and reporting emissions projection scenarios. The group also noted that the South American country needs to reduce its emissions by 8.2% under its NDC to reach its 2030 goals – equivalent to 28,750 ktCO2e.

Any fees tied to emissions benchmarks within carbon-intensive, trade-exposed (CITE) products would double US revenues if expanded beyond a carbon border adjustment mechanism (CBAM) to include domestic production, new research published on Wednesday shows.