The PMI Annual Report 2025 highlights a year of steady progress as countries strengthened carbon pricing policies and built the systems needed to participate in carbon markets. PMI expanded support to 35 countries, advanced implementation programs, and scaled knowledge and innovation efforts across digital MRV, registries, and practical guidance. The report also showcases progress under the Compact with Africa-Green Business Fund, which is helping financial institutions expand green investment across the continent. Together, these achievements show PMI helping countries translate climate-market opportunities into real development gains.