## GFS Notice of Decision 1.23 Environmental Classifications within GFS

## Source details

**Canonical URL:** [GFS Notice of Decision 1.23 Environmental Classifications within GFS](https://www.imf.org/-/media/files/data/statistics/gfsm/global-consultations/research-projects/notice-of-decision-gfsm-2014-update-123-environmental-classifications-within-gfs.pdf)

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### Decision summary
- The update to the GFSM 2014 will, subject to the outcome of other related GFS research projects, implement the following changes:
  - maintain the existing ‘of which’ reporting options for environmental taxes, while also maintaining the inclusion and definition of pollution taxes (GFS code 114522) in the main GFSM framework;
  - introduce ‘of which’ categories for environmental grants receivable and payable;
  - introduce ‘of which’ categories for Environment, Social and Governance (ESG) and green instruments for debt securities, loans, and equity and investment fund shares;
  - introduce ‘of which’ categories of natural resource rent to include non-renewable mineral and energy resources, renewable energy resources, biological resources, water resources, and other natural resources;
  - include separate categories for non-renewable mineral and energy resources, and renewable energy resources into the GFSM classification of stocks and flows;
  - update and expand the existing text in GFSM 2014 Appendix 7 on the relationship of GFS with the SEEA CF to discuss how users and compilers can use GFS for environment-related analysis, thereby broadening the discussion to other sources of government environmental statistics.

### Related GFS research projects (referenced)
- (i) 2.19 Accounting for natural resources and their exploitation in GFS
- (ii) 2.20 Climate-sustaining and climate-damaging subsidies and other transfers
- (iii) 2.21 Presentation of GFS flows related to natural resources
- (iv) 1.2 Treatment of rent

### Consultations, discussions, and timing
- GFS Related Documents:
  - GFS Proposed Recommendations Document GFSM PR 1.23
  - GFS Discussion Note Not applicable
  - GFS Global Consultations March 2025
  - Discussions at GFSAC Meeting(s) May 2025
- SNA/BPM Related Documents:
  - Guidance/Issue Note SNA GN WS.12
  - Global Consultation(s) SNA Consultations: January 2023
- Discussions at the AEG/BOPCOM Meeting(s):
  - AEG: October 2023; March 2023; October 2022

### Implementation and drafting note
- The final language used in the updated GFSM will be subject to review during the manual drafting phase to ensure consistency throughout the updated GFSM.

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_Source: https://www.imf.org/-/media/files/data/statistics/gfsm/global-consultations/research-projects/notice-of-decision-gfsm-2014-update-123-environmental-classifications-within-gfs.pdf_