## third-phase-of-the-g20-data-gaps-initiative-second-progress-report

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### I. Key objectives and timeline
- DGI-3 workplan covers 14 recommendations addressing data gaps in: (i) climate change; (ii) distributional information; (iii) fintech and financial inclusion; and (iv) access to private and administrative data and data sharing.
- Implementation of DGI-3 started in earnest in 2023 and is expected to conclude in 2027.
- The targets and timelines are to be revisited regularly to align with availability of data sources, development of methodological guidelines, national and international circumstances, and other developments.

### II. High-level progress to date
- Main DGI-3 activities since August 2023:
  - Stocktaking surveys to establish data availability.
  - Workshops for capacity building and methodology refinement (August 2023 – July 2024).
  - Development of reporting templates, methodological frameworks, and compilation tools.
  - Pilot data collection exercises.
- Several economies have started to develop and disseminate either experimental or official estimates, leveraging advances in technology, statistical methods, and source data.
- The IMF, in close collaboration with the IAG and the FSB, communicates progress to the G20 FMCBGs in annual progress reports.

### III. Workshops (August 2023 – July 2024): focus and selected outputs
- Workshop objectives:
  - Agree on conceptual framework, methodology, and reporting templates.
  - Reach consensus on indicator development, data collection exercises, and dissemination.
  - Share experience on cross-cutting issues, such as data sharing and access.
- Selected workshop outputs by recommendation:
  - Rec. 1 (GHG Emission Accounts): carbon footprints; GHG emissions by industry; GHG emission intensities by industry. Policy relevance: air emissions accounts, carbon footprints and energy accounts support climate mitigation policy development.
  - Rec. 2 (Physical Energy Flow Accounts): energy accounts, including breakdown between GHG emitting and non-emitting energy production. Policy relevance: monitoring transition to a low-carbon economy.
  - Rec. 3 (Carbon Footprints of FDI): CO2 emissions per unit of output of foreign-controlled MNEs and domestically controlled enterprises by industry.
  - Rec. 4 (Climate Finance): green debt securities and listed shares by sector of issuer and holder.
  - Rec. 5 (Forward-looking Physical and Transition Risk Indicators): forward-looking physical and transition risk indicators; tool development mainly for physical risks.
  - Recs. 6 & 7 (Climate subsidies and expenditures): annual estimates of climate-impacting subsidies by type; annual estimates of current and capital expenditures on climate mitigation and adaptation.
  - Recs. 10–12 (Fintech): Fintech credit aggregates and linkages; stock and flow of digital money by type; fintech-enabled financial inclusion indicators.
  - Recs. 13–14 (Data access & sharing): development of data sharing frameworks and procedures ensuring compliance with data protection and privacy.

### IV. Status of key inputs and readiness (selected recommendations and inputs)
- National statisticians require three inputs: (i) an agreed conceptual/methodological framework; (ii) source data to produce estimates in a timely manner; and (iii) an agreed reporting template for dissemination.
- Readiness scoring: "high" = all 3 inputs exist; "moderate" = 2 or more inputs exist; "low" = less than 2 inputs exist. (Recommendations 13 and 14 excluded.)
- Selected readiness and inputs (as reported):
  - Recommendation 1. GHG Emissions Accounts and National Carbon Footprints — Readiness: High
    - Methodological frameworks: Manual for Air Emissions Accounts, Eurostat; System of National Accounts, 2008 (2008 SNA); System of Environmental-Economic Accounting Central Framework (SEEA-CF).
    - Reporting templates: Yes (for SUTs and GHG emission accounts). Framework for carbon footprints in development.
    - Source data & compilation tools: GHG Emissions Input-Output Tables (IOTs) or Supply and Use Tables (SUTs) / Multi-Regional Input Output (MRIOs) Tables; Air Emission Accounts Compilation Tool.
  - Recommendation 2. Energy Accounts — Readiness: High
    - Methodological frameworks: SEEA-CF.
    - Reporting templates: Yes.
    - Source data: Energy Balances; SUTs.
  - Recommendation 3. Carbon Footprints of FDI — Readiness: Moderate
    - Methodological frameworks: Benchmark Definition of FDI, 4th Edition (BD4); Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6).
    - Reporting templates: Yes, for FDI, ACME, TEC, and carbon emission intensities.
    - Source data & compilation tools: Multi-Regional Input Output (MRIOs); FDI Statistics; International Trade Statistics by Enterprise Characteristic (TEC); Activities of Multinational Enterprise (MNE) statistics; further methodology on carbon footprint estimation in development.
  - Recommendation 4. Climate Finance — Readiness: High
    - Methodological frameworks: In development - based on Handbook on Securities Statistics. Training course being conducted in September 2024.
    - Reporting templates: Yes.
    - Source data: Debt securities issuances and holdings; Listed shares issuances and holdings.
  - Recommendation 5. Forward Looking Physical and Transition Risk Indicators — Readiness: Low
    - Methodological frameworks: In development - A concept note prepared and shared.
    - Reporting templates: In Development.
    - Source data & tools: Geospatial estimates of population, GDP, built-up area, firms, and land; geospatial estimates of climate hazards; damage functions; data on climate scenarios. Tool development mainly for physical risks.
  - Recommendation 6. Climate-Impacting Government Subsidies — Readiness: Low
    - Methodological frameworks: In development based on 2008 SNA, Government Finance Statistics Manual 2014 (GFSM 2014), and the SEEA-CF.
    - Reporting templates: In Development.
    - Source data: Government Subsidies by purpose and activities.

### V. DGI-3 implementation status (Recommendations 1–12) — counts as of August 2024 (Table 3)
- Recommendation 1: Data gap closed 7; Data gap is being addressed 13; Data gap is not an immediate priority area for national authorities, given the available resources 4; Data gap is not material for economy 1; Total 25
- Recommendation 2: Data gap closed 11; Data gap is being addressed 11; Data gap is not an immediate priority area for national authorities, given the available resources 3; Data gap is not material for economy 0; Total 25
- Recommendation 3: Data gap closed 2; Data gap is being addressed 14; Data gap is not an immediate priority area for national authorities, given the available resources 8; Data gap is not material for economy 0; Total 24
- Recommendation 4: Data gap closed 0; Data gap is being addressed 23; Data gap is not an immediate priority area for national authorities, given the available resources 1; Data gap is not material for economy 0; Total 24
- Recommendation 5: Data gap closed 0; Data gap is being addressed 20; Data gap is not an immediate priority area for national authorities, given the available resources 4; Data gap is not material for economy 0; Total 24
- Recommendation 6: Data gap closed 0; Data gap is being addressed 15; Data gap is not an immediate priority area for national authorities, given the available resources 10; Data gap is not material for economy 0; Total 25
- Recommendation 7: Data gap closed 0; Data gap is being addressed 16; Data gap is not an immediate priority area for national authorities, given the available resources 9; Data gap is not material for economy 0; Total 25
- Recommendation 8: Data gap closed 4; Data gap is being addressed 11; Data gap is not an immediate priority area for national authorities, given the available resources 10; Data gap is not material for economy 0; Total 25
- Recommendation 9: Data gap closed 7; Data gap is being addressed 9; Data gap is not an immediate priority area for national authorities, given the available resources 9; Data gap is not material for economy 0; Total 25
- Recommendation 10: Data gap closed 1; Data gap is being addressed 15; Data gap is not an immediate priority area for national authorities, given the available resources 8; Data gap is not material for economy 1; Total 25
- Recommendation 11: Data gap closed 0; Data gap is being addressed 15; Data gap is not an immediate priority area for national authorities, given the available resources 10; Data gap is not material for economy 0; Total 25
- Recommendation 12: Data gap closed 0; Data gap is being addressed 15; Data gap is not an immediate priority area for national authorities, given the available resources 7; Data gap is not material for economy 3; Total 25

### VI. Implementation risks and capacity constraints
- Main risks:
  - Resource pressures (financial and technical) faced by participating economies and international organizations.
  - Some economies may take more time to close data gaps due to resource constraints.
  - Initial estimates in some economies will be developed as experimental and improved over time.

### VII. Climate-related statistical workstreams and data sources (selected)
- Mitigation and Adaptation Expenditures
  - Assessment: Low
  - Status: In development
  - Methodological bases cited: SEEA-CF, the GFSM 2014, the 2008 SNA and the Classification of Environmental Purposes, COFOG and Ad hoc taxonomy efforts by economies.
  - Data products envisaged: Current and capital government and private expenditures by purpose; Environmental Goods and Services Account; Environmental Protection Expenditure Accounts.
  - Supporting datasets: SUTs / input-output tables with significant product detail.
- Air emissions / environmental accounts
  - Noted progress in air emission accounts across participating economies.
  - Source frameworks referenced for further climate indicators: Air Emissions Accounts combined with national accounts to derive GHG emission intensities.
- Climate-related private and administrative data access (Recommendations 13–14 context)
  - Ten economies reported improvement in access to private and administrative data sources for statistical purposes and in the level of data sharing.
  - Examples: South African Reserve Bank MoUs; Spain data sharing efforts.

### VIII. Summary of progress and constraints (2023→2024)
- General progress:
  - Substantial strides in air emission accounts, household income distribution, physical and transition risk indicators, and digital currencies since the 2023 DGI-3 Progress Report.
  - Methodological frameworks and source data availability accelerated progress in several recommendations.
- Institutional and methodological constraints:
  - Lack of institutional coordination among national institutions is a key hindrance for climate-related recommendations.
  - Need to establish clear criteria to prioritize efforts given resource constraints and international data needs.
  - Lack of well-developed methodologies for some recommendations remains a major concern.
- Priority and resource trade-offs:
  - Between 28 and 40 percent of the 25 DGI-3 participating economies indicated that recommendation 3 and recommendations 6 to 12 are not immediate priorities due to resource constraints.
  - Several economies moved from “unable to assess” in 2023 to clearer prioritization in 2024 after consultation with national stakeholders.

### IX. Box 1 — GHG emission intensities and climate policy implications (key findings)
- Indicator construction:
  - GHG emission intensities per unit of output and value added are derived by dividing GHG emissions by real output or real value added for a given industry.
  - Falling GHG emission intensities indicate decoupling of growth from emissions via lower-carbon energy sources or efficiency improvements.
- Observed sectoral trends:
  - Notable reductions in emission intensities were observed within agricultural and industrial sectors (industrial defined to include electricity, mining, and water).
  - These sectors together account for over 75 percent of all G20 emissions and are among the most emission intensive.
- Shortfall relative to climate goals:
  - The 2023 Intergovernmental Panel on Climate Change’s report indicates that global greenhouse gas emissions would need to decline by at least 43 percent by 2030 compared to 2019 levels to keep global warming from exceeding 1.5 degrees Celsius.
  - Current reductions in emission intensities are not proceeding fast enough to meet these climate goals.
- Data gaps and measurement needs:
  - Most G20 economies do not regularly produce sufficiently detailed sectoral statistics; lack of robust data coverage limits global assessment and policy design.
  - Measurement of carbon content across products, companies, industries, and countries requires reliable, precise, interoperable, and readily accessible information, along with auditable standards and a dedicated information infrastructure.
  - A dedicated international workshop on carbon content measurement was organized on 21.02.2024-23.02.2024.

### X. Household distributional statistics — progress and headline results
- Income, consumption, and saving distribution:
  - OECD and Eurostat-led expert group (including 15 G20 economies) developed methodology for income, consumption and saving in line with national accounts totals (see OECD, 2024); several countries already publish annual results.
  - Target income variable: adjusted disposable income.
  - Target consumption variable: actual final consumption.
- Representative cross-country distributional results (examples):
  - Mexico: highest 20 percent (fifth quintile) earn 2.8 times the average; lowest 20 percent (first quintile) earn 0.37 times the average.
  - United States: lowest 20 percent earn 0.32 times the average; highest 20 percent earn 2.14 times the average.
  - Several countries report negative savings for lower income quintiles in some cases.
- Household wealth statistics (Euro area experimental results):
  - Share of wealth held by the wealthiest 10 percent in the Euro area: 56 percent by the fourth quarter of 2023.
  - Share of wealth held by the bottom half in the Euro area: 5 percent by the fourth quarter of 2023.
  - Euro area net wealth dynamics: 58 percent increase in net wealth since 2009; 21 percent rise since 2020.

### XI. Box 3 — Beyond The Gini Coefficient: Distributional Wealth Accounts (DWA)
- Distributional findings:
  - In 2009, the top 10 percent of households held 54 percent of this wealth, while the bottom half controlled a mere 5 percent.
  - ECB's DWA capture around 90 percent of household wealth, but do not yet capture occupational pension wealth and some smaller wealth items.
- DWA features and advantages:
  - DWA provide detailed shares of wealth across household percentiles and are integrated with national accounts aggregates.
  - Timely, consistent, and internationally comparable DWA estimates complement income, consumption, and saving data.
- International coordination and development targets:
  - Currently, thirty-three economies, including 13 in the G20, have joined an OECD expert group to develop harmonized wealth distribution estimates.
  - Target to have missing elements (e.g., occupational pension wealth and some smaller wealth items) included by the end of 2026.
- Policy relevance and advice:
  - Economies are strongly encouraged to participate in data compilation exercises and to consider developing and disseminating early, experimental estimates.

### XII. Policy implications and recommendations highlighted
- Improve institutional coordination:
  - Establish clearer institutional coordination among national institutions to accelerate climate-related statistical work.
- Prioritize methodological development and capacity building:
  - Develop and disseminate well-defined methodologies where lacking.
  - Use Task Team workshops to define targets, methodologies, and build capacity.
- Enhance data access and sharing:
  - Expand legal agreements, MoUs, and administrative data sharing practices to secure private and administrative data for statistical use.
- Expand and standardize granular climate and distributional data:
  - Standardize and expand air emission accounts and carbon content measurement to support policy alignment with sustainability goals.
  - Expand household distributional and wealth accounts to produce timely, comparable measures aligned with national accounts.

### XIII. Governance, task teams, and planned workshops (2024–2027)
- Governance:
  - DGI-3 coordinated by the IMF (DGI Secretariat) in cooperation with the IAG, the FSB and the G20 Presidency; reports to the G20 FMCBGs.
  - Leading organizations by recommendation are identified (examples):
    - Rec 1: IMF, UNSD, Eurostat (leads), and the OECD.
    - Rec 4: BIS and ECB (leads), with IMF, OECD, FSB; coordinated by WGSD.
    - Rec 10: FSB (lead), with BIS/IFC and ECB.
    - Rec 11: IMF (lead), with BIS/IFC, ECB, and FSB.
- Task team objectives:
  - Execute project plans, stocktaking exercises, establish methodological/data collection frameworks, design templates and tools, and facilitate compilation and dissemination.
- Workshops and timeline highlights:
  - Recommendation 4: basic intermediate target for core data on green bonds by end-2025; final target for other data by end-2027.
  - Planned thematic workshops across Q4 2024 through Q1 2027 covering methodology finalization, template development, experimental indicators, and country/regional capacity building.
  - DGI-3 Global Conference held June 11–13, 2024 (Brasilia) with over 140 officials; planned Global Conference in June 2025.

*Source: third-phase-of-the-g20-data-gaps-initiative-second-progress-report (excerpt provided).*

### 1. More Granular Climate Data Will Strengthen Climate Policy ...........................................................

### 1. More Granular Climate Data Will Strengthen Climate Policy

### I. Key objectives and timeline
- DGI-3 workplan covers 14 recommendations addressing data gaps in: (i) climate change; (ii) distributional information; (iii) fintech and financial inclusion; and (iv) access to private and administrative data and data sharing.
- Implementation of DGI-3 started in earnest in 2023 and is expected to conclude in 2027.
- The targets and timelines are to be revisited regularly to align with availability of data sources, development of methodological guidelines, national and international circumstances, and other developments.

### II. Progress to date (high-level)
- Main DGI-3 activities since August 2023 include: stocktaking surveys to establish data availability; workshops for capacity building and methodology refinement; development of reporting templates, methodological frameworks, and compilation tools; and pilot data collection exercises.
- Several economies have started to develop and disseminate either experimental or official estimates, leveraging advances in technology, statistical methods, and source data.
- The IMF, in close collaboration with the IAG and the FSB, communicates progress to the G20 FMCBGs in annual progress reports.

### III. Workshops (August 2023 – July 2024): focus and outputs
- Workshop objectives:
  - Agree on conceptual framework, methodology, and reporting templates.
  - Reach consensus on indicator development, data collection exercises, and dissemination.
  - Share experience on cross-cutting issues, such as data sharing and access.
- Workshop outputs (selected by recommendation):
  - Rec. 1 (GHG Emission Accounts): carbon footprints; GHG emissions by industry; GHG emission intensities by industry. Policy relevance: air emissions accounts, carbon footprints and energy accounts support climate mitigation policy development.
  - Rec. 2 (Physical Energy Flow Accounts): energy accounts, including breakdown between GHG emitting and non-emitting energy production. Policy relevance: monitoring transition to a low-carbon economy.
  - Rec. 3 (Carbon Footprints of FDI): CO2 emissions per unit of output of foreign-controlled MNEs and domestically controlled enterprises by industry. Policy relevance: clarifies where emissions are generated and where related goods and services are consumed.
  - Rec. 4 (Climate Finance): green debt securities and listed shares by sector of issuer and holder. Policy relevance: track source of funds for green projects and adaptation.
  - Rec. 5 (Forward-looking Physical and Transition Risk Indicators): forward-looking physical and transition risk indicators. Policy relevance: estimate timing and scope of climate policies and design support.
  - Recs. 6 & 7 (Climate Change Related Subsidies and Expenditures): annual estimates of climate-impacting subsidies by type; annual estimates of current and capital expenditures on climate mitigation and adaptation. Policy relevance: track climate-related expenditures and comparable subsidy estimates.
  - Rec. 10 (Fintech Credit): estimates of Fintech credit aggregates and linkages with financial and non-financial sectors. Policy relevance: understand nonbank Fintech credit access, usage, and vulnerability build-up.
  - Rec. 11 (Digital Money): estimates of the stock and flow of digital money by type. Policy relevance: monitor cross-border usage, currency substitution, and impacts on financial stability and monetary policy effectiveness.
  - Rec. 12 (Fintech-enabled Financial Inclusion): annual estimates of fintech-enabled financial inclusion and type of access and sector. Policy relevance: monitor impact of financial innovation on inclusion.
  - Recs. 13 & 14 (Access to Private and Administrative Data and Data Sharing): development of data sharing frameworks and procedures to access private and administrative data while ensuring compliance with legal frameworks on data protection and privacy.

### IV. Status of key inputs needed for implementation (Methodological frameworks; Reporting templates; Source data & compilation tools)
- National statisticians require three inputs: (i) an agreed conceptual/methodological framework; (ii) source data to produce estimates in a timely manner; and (iii) an agreed reporting template for dissemination.
- Recommendations are assigned an overall readiness score: "high" if all 3 inputs exist; "moderate" if 2 or more inputs exist; "low" if less than 2 inputs exist. (Recommendations 13 and 14 excluded from the table due to scope.)

- Selected readiness and inputs (as reported):
  - Recommendation 1. GHG Emissions Accounts and National Carbon Footprints — Readiness: High
    - Methodological frameworks: Manual for Air Emissions Accounts, Eurostat; System of National Accounts, 2008 (2008 SNA); System of Environmental-Economic Accounting Central Framework (SEEA-CF).
    - Reporting templates: Yes (for SUTs and GHG emission accounts). Framework for carbon footprints in development.
    - Source data & compilation tools: GHG Emissions Input-Output Tables (IOTs) or Supply and Use Tables (SUTs) / Multi-Regional Input Output (MRIOs) Tables; Air Emission Accounts Compilation Tool.
  - Recommendation 2. Energy Accounts — Readiness: High
    - Methodological frameworks: SEEA-CF.
    - Reporting templates: Yes.
    - Source data: Energy Balances; SUTs.
  - Recommendation 3. Carbon Footprints of FDI — Readiness: Moderate
    - Methodological frameworks: Benchmark Definition of FDI, 4th Edition (BD4); Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6).
    - Reporting templates: Yes, for FDI, ACME, TEC, and carbon emission intensities.
    - Source data & compilation tools: Multi-Regional Input Output (MRIOs); FDI Statistics; International Trade Statistics by Enterprise Characteristic (TEC); Activities of Multinational Enterprise (MNE) statistics; further methodology on carbon footprint estimation in development; other data that could enhance estimation such as emission intensities by industry, use, and ownership (from Rec.1).
  - Recommendation 4. Climate Finance — Readiness: High
    - Methodological frameworks: In development - based on Handbook on Securities Statistics. Training course being conducted in September 2024.
    - Reporting templates: Yes.
    - Source data: Debt securities issuances and holdings; Listed shares issuances and holdings.
  - Recommendation 5. Forward Looking Physical and Transition Risk Indicators — Readiness: Low
    - Methodological frameworks: In development - A concept note prepared and shared with participating economies; preliminary framework to bring together data on climate scenarios, climate events, exposures, and vulnerabilities.
    - Reporting templates: In Development.
    - Source data & tools: Geospatial estimates of population, GDP, built-up area, firms, and land; geospatial estimates of climate hazards; damage functions for different hazards or aggregation methods across hazards; data on climate scenarios. A tool is being developed mainly for physical risks to make hazards and exposure data more easily accessible to users.
  - Recommendation 6. Climate-Impacting Government Subsidies — Readiness: Low
    - Methodological frameworks: In development based on 2008 SNA, Government Finance Statistics Manual 2014 (GFSM 2014), and the SEEA-CF.
    - Reporting templates: In Development.
    - Source data: Government Subsidies by purpose and activities.

### V. Implementation risks and capacity constraints
- Main risks for implementation are associated with resource pressures (both financial resources and technical capacity) faced by both participating economies and international organizations.
- Due to resource constraints, some economies may take more time to close the data gaps.
- For some economies, initial estimates will be developed as experimental and improved over time.

*Source: third-phase-of-the-g20-data-gaps-initiative-second-progress-report (excerpt provided).*

### 7. Climate Change

### third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 7. Climate Change

### Climate-related statistical workstreams and data sources
- Mitigation and Adaptation Expenditures
  - Assessment: Low
  - Status: In development
  - Methodological bases cited: SEEA-CF, the GFSM 2014, the 2008 SNA and the Classification of Environmental Purposes, COFOG and Ad hoc taxonomy efforts by economies.
  - Data products envisaged: Current and capital government and private expenditures by purpose; Environmental Goods and Services Account; Environmental Protection Expenditure Accounts.
  - Supporting datasets: SUTs / input-output tables with significant product detail.

- Air emissions / environmental accounts
  - Noted progress in air emission accounts across participating economies.
  - Source frameworks referenced for further climate indicators: Air Emissions Accounts combined with national accounts to derive GHG emission intensities.

- Climate-related private and administrative data access (Recommendations 13–14 context)
  - Ten economies reported improvement in access to private and administrative data sources for statistical purposes and in the level of data sharing.
  - Examples provided by economies: South African Reserve Bank (MoUs with key stakeholders; redesigned survey forms for more granular banking and non-banking entity data); Spain (examples of data sharing efforts).

### DGI-3 implementation status (Recommendations 1–12) — counts as of August 2024 (Table 3)
- Recommendation 1: Data gap closed 7; Data gap is being addressed 13; Data gap is not an immediate priority area for national authorities, given the available resources 4; Data gap is not material for economy 1; Total 25
- Recommendation 2: Data gap closed 11; Data gap is being addressed 11; Data gap is not an immediate priority area for national authorities, given the available resources 3; Data gap is not material for economy 0; Total 25
- Recommendation 3: Data gap closed 2; Data gap is being addressed 14; Data gap is not an immediate priority area for national authorities, given the available resources 8; Data gap is not material for economy 0; Total 24
- Recommendation 4: Data gap closed 0; Data gap is being addressed 23; Data gap is not an immediate priority area for national authorities, given the available resources 1; Data gap is not material for economy 0; Total 24
- Recommendation 5: Data gap closed 0; Data gap is being addressed 20; Data gap is not an immediate priority area for national authorities, given the available resources 4; Data gap is not material for economy 0; Total 24
- Recommendation 6: Data gap closed 0; Data gap is being addressed 15; Data gap is not an immediate priority area for national authorities, given the available resources 10; Data gap is not material for economy 0; Total 25
- Recommendation 7: Data gap closed 0; Data gap is being addressed 16; Data gap is not an immediate priority area for national authorities, given the available resources 9; Data gap is not material for economy 0; Total 25
- Recommendation 8: Data gap closed 4; Data gap is being addressed 11; Data gap is not an immediate priority area for national authorities, given the available resources 10; Data gap is not material for economy 0; Total 25
- Recommendation 9: Data gap closed 7; Data gap is being addressed 9; Data gap is not an immediate priority area for national authorities, given the available resources 9; Data gap is not material for economy 0; Total 25
- Recommendation 10: Data gap closed 1; Data gap is being addressed 15; Data gap is not an immediate priority area for national authorities, given the available resources 8; Data gap is not material for economy 1; Total 25
- Recommendation 11: Data gap closed 0; Data gap is being addressed 15; Data gap is not an immediate priority area for national authorities, given the available resources 10; Data gap is not material for economy 0; Total 25
- Recommendation 12: Data gap closed 0; Data gap is being addressed 15; Data gap is not an immediate priority area for national authorities, given the available resources 7; Data gap is not material for economy 3; Total 25

### Summary of progress and constraints (2023→2024)
- General progress
  - Since the 2023 DGI-3 Progress Report, substantial strides were made in addressing and closing data gaps, notably in air emission accounts, household income distribution, physical and transition risk indicators, and digital currencies.
  - Methodological frameworks and source data availability accelerated progress in several recommendations.

- Institutional and methodological constraints
  - Task Team Chairs identified lack of institutional coordination among national institutions as a key hindrance for advancing climate-related recommendations.
  - A need to establish clear criteria to prioritize efforts was emphasized, balancing resource constraints and the value of reliable data for the international community.
  - A major concern: the lack of well-developed methodologies for some recommendations.

- Priority and resource trade-offs
  - Between 28 and 40 percent of the 25 DGI-3 participating economies indicated that recommendation 3 and recommendations 6 to 12 are not immediate priorities due to resource constraints.
  - Several economies moved from “unable to assess” in 2023 to clearer prioritization in 2024 after consultation with national stakeholders; many concluded targets were not immediate priorities given competing statistical development needs.

### Box 1 — GHG emission intensities and climate policy implications (key findings)
- Indicator construction
  - GHG emission intensities per unit of output and value added are derived by dividing GHG emissions by real output or real value added for a given industry.
  - Falling GHG emission intensities indicate decoupling of growth from emissions via lower-carbon energy sources or efficiency improvements.

- Observed sectoral trends
  - Notable reductions in emission intensities were observed within agricultural and industrial sectors (industrial defined to include electricity, mining, and water).
  - These sectors together account for over 75 percent of all G20 emissions and are among the most emission intensive.

- Shortfall relative to climate goals
  - The 2023 Intergovernmental Panel on Climate Change’s report indicates that global greenhouse gas emissions would need to decline by at least 43 percent by 2030 compared to 2019 levels to keep global warming from exceeding 1.5 degrees Celsius.
  - Current reductions in emission intensities are not proceeding fast enough to meet these climate goals.

- Data gaps and measurement needs
  - Most G20 economies do not regularly produce sufficiently detailed sectoral statistics; lack of robust data coverage limits global assessment and policy design.
  - Measurement of carbon content across products, companies, industries, and countries requires reliable, precise, interoperable, and readily accessible information, along with auditable standards and a dedicated information infrastructure.
  - A dedicated international workshop on carbon content measurement was organized on 21.02.2024-23.02.2024.

### Household distributional statistics — progress and headline results
- Income, consumption, and saving distribution
  - The OECD and Eurostat-led international expert group (including 15 G20 economies) developed methodology for income, consumption and saving in line with national accounts totals (see OECD, 2024); several countries already publish annual results.
  - Target income variable: adjusted disposable income (income available to households after redistribution, including in-kind transfers).
  - Target consumption variable: actual final consumption (all household expenditure on goods and services, including in-kind consumption).

- Representative cross-country distributional results (examples)
  - Mexico: highest 20 percent (fifth quintile) earn 2.8 times the average; lowest 20 percent (first quintile) earn 0.37 times the average.
  - United States: lowest 20 percent earn 0.32 times the average; highest 20 percent earn 2.14 times the average.
  - Several countries report negative savings for lower income quintiles in some cases.

- Household wealth statistics (Euro area experimental results)
  - Share of wealth held by the wealthiest 10 percent in the Euro area: 56 percent by the fourth quarter of 2023.
  - Share of wealth held by the bottom half in the Euro area: 5 percent by the fourth quarter of 2023.
  - Euro area net wealth dynamics: 58 percent increase in net wealth since 2009; 21 percent rise since 2020.

### Policy implications and recommendations highlighted
- Improve institutional coordination
  - Establish clearer institutional coordination among national institutions to accelerate climate-related statistical work.

- Prioritize methodological development and capacity building
  - Develop and disseminate well-defined methodologies where lacking.
  - Use Task Team workshops to define targets, methodologies, and build capacity.

- Enhance data access and sharing
  - Expand legal agreements, MoUs, and administrative data sharing practices to secure private and administrative data for statistical use.

- Expand and standardize granular climate and distributional data
  - Standardize and expand air emission accounts and carbon content measurement to support policy alignment with sustainability goals.
  - Expand household distributional and wealth accounts to produce timely, comparable measures aligned with national accounts.

*Source: third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 7. Climate Change (PDF).*

### Box 3. Beyond The Gini Coefficient: Advancing Economic Analysis with Wealth Distribution

### Box 3. Beyond The Gini Coefficient: Advancing Economic Analysis with Wealth Distribution

### Distributional findings
- In 2009, the top 10 percent of households held 54 percent of this wealth, while the bottom half controlled a mere 5 percent.
- The ECB's Distributional Wealth Accounts (DWA) results for the Euro Area capture around 90 percent of household wealth, but do not yet capture important items such as occupational pension wealth and some smaller wealth items.
- Social security pension entitlements are not part of household wealth as defined in the system of national accounts, but they may still constitute an important retirement resource for households, driving important economic decisions.

### Distributional Wealth Accounts (DWA) — features and advantages
- DWA provide a more intuitive representation of economic wealth inequalities than traditional measures like the Gini Coefficient.
- DWA detail the specific shares of wealth — from real estate to savings — across different household percentiles, offering a nuanced understanding of wealth disparities.
- DWA are integrated with the standard national accounts aggregates and therefore can be seamlessly transitioned into the toolkits of policymakers.
- Timely, consistent, and internationally comparable DWA estimates will complement existing data on income, consumption, and saving, providing a unique and consistent picture of economic inequality across countries.
- DWAs are especially crucial during periods of economic upheaval such as the Covid-19 pandemic and the global financial crisis, when policymakers needed to tailor targeted support to the most vulnerable household groups.

### International coordination, coverage, and development targets
- The release of DWA data by the European Central Bank represents a significant advance towards addressing the G20’s recommendation on household wealth, as part of DGI-3.
- The DGI-3 recommendation will broaden these datasets beyond the Euro Area and eventually beyond the G20.
- Currently, thirty-three economies, including 13 in the G20, have joined an OECD expert group to collaborate and develop internationally harmonized wealth distribution estimates.
- One of the goals of the group is to explore possibilities to arrive at a more comprehensive wealth concept.
- The group targets to have the missing elements (for example, occupational pension wealth and some smaller wealth items) included by the end of 2026.
- In the meantime, the group will start exploring possibilities to complement the results with information on social security pension entitlements.

### Policy relevance and recommendations
- By leveraging household distributional data, policymakers have a powerful tool to stimulate inclusive and equitable economic growth.
- Understanding the impact of policies on different segments of the population is the first step towards designing more just economic policies for the future.
- The DGI-3 recommendation encourages economies to integrate much of the currently available national accounts estimates with estimates of household wealth being developed in other statistical areas.
- Economies are strongly encouraged to participate in the data compilation exercises and advised to initially consider the development and dissemination of early, experimental estimates.

### Way forward and implementation actions (DGI-3 work program)
- Further progress in implementing the DGI-3 recommendations is expected from the DGI-3 Task Teams and G20 and participating economies. The IAG and the FSB Secretariat will continue to monitor implementation and report progress to the G20 FMCBGs.
- As part of the 2025 DGI-3 work program, various forms of consultations and coordination with participating economies are planned via workshops, meetings of task teams as well as regional and/or bilateral meetings, carried out in person or hybrid.
- The workplan in 2025 will focus on finalizing methodological frameworks and reporting templates or updating existing ones, as well as developing and/or disseminating (experimental) estimates.
- The work program for the second half of 2024 and for 2025 will include ten thematic workshops focused on finalizing methodology and reporting templates, supporting economies in development of estimates, and in some cases discussing experimental estimates and intermediate targets.
- The 2025 program will also include consultation and bilateral meetings as needed, and a Global Conference (planned for June 2025).
- There is a need for further work on establishing definitions and developing methodologies for climate-impacting subsidies, digital money, and strategies to improve access to private sector data; expertise from relevant non-statistical domains should be involved.
- Economies are encouraged to develop and disseminate early, experimental estimates; as more countries develop and report these data, the IAG will prioritize efforts to ensure data comparability across countries.
- Close collaboration and increased communication between the DGI-3 Secretariat, Task Team Chairs, and Country Coordinators are essential. DGI Secretariat and task team leads will continue providing biannual updates on the implementation of DGI-3 to G20 country coordinators.
- DGI-3 resources prepared by the Task Teams during methodological development and capacity building will be made available on the DGI website.

*Source: Box 3. Beyond The Gini Coefficient: Advancing Economic Analysis with Wealth Distribution*

### 2024. The NCRA will identify and prioritize the most valued areas that are of national significance and at

### third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 2024

### Australia — National Climate Resilience Assessment (NCRA) and Recommendations
- NCRA will identify and prioritize areas of national significance at risk from climate change: environment, biodiversity, health, infrastructure, agriculture, and the economy.
- NCRA deliverables:
  - Shared national framework to inform national priorities for climate adaptation and resilience actions.
  - Enable consistent monitoring of climate risk across Australia.
  - NCRA is not a transition risk assessment and has not committed to deliver transition risk indicators.
  - Will draw on expertise of the Australian Climate Service (ACS) — partnership of the Bureau of Meteorology, Geoscience Australia, Commonwealth Scientific and Industrial Research Organisation and the ABS.
- Status and timelines:
  - A qualitative first pass risk assessment was completed in 2023 (see: https://www.dcceew.gov.au/climate-change/publications/ncra-first-pass-risk-assessment).
  - The quantitative and finalized risk assessment will be delivered at the end of 2024.
- Recommendation-specific updates:
  - Rec 6 (Climate-Impacting Government Subsidies): Data gap is being addressed. The annual Commonwealth Budget details climate-impacting measures as well as GDP and all other government expenditure and tax expenditures. Federal Budget Papers since October 2022 detail new climate spending commitments.
  - Rec 7 (Climate Change Mitigation and Adaptation Expenditures): Data gap is being addressed. New net zero spending commitments available in 2024-25 Budget Statement 3 with measures in Budget Paper 2; Budget Paper 1 splits net zero spending into 5 sub-categories (category 1 mitigation; category 3 adaptation).
  - Rec 8 & Rec 9 (Distribution of Household Income, Consumption and Savings; Distribution of Household Wealth): Data gaps being addressed. Australian National Accounts release on distribution integrates ABS micro and macro data; latest release reference period 2021-22 financial year. Timing of next release to be confirmed (see https://www.abs.gov.au/.../latest-release).
  - Rec 10 (Fintech Credit): Data gap closed. RBA participated in 2023 FSB pilot; provided data for FSB NBFI 2024 global monitoring exercise relating to a limited number of finance companies identified as fintechs. Expanding collections further is not likely in foreseeable future.
  - Rec 11 (Digital Money): Not immediate priority; RBA and Australian Treasury explore potential CBDC but none issued. Limited usage of digital money/crypto-assets as captured under Rec 11 (informed by RBA’s Consumer Payments Survey).
  - Rec 12 (Fintech-enabled Financial Inclusion): Not an immediate priority given resources.
  - Rec 13 & Rec 14 (Access to private/administrative data; Data Sharing): Level of access and data sharing unchanged in 2023 vs 2022.

### Brazil — Climate and Financial Data Gaps
- Rec 1 (GHG Emission Accounts and National Carbon Footprints): Being addressed via National Inventory of Anthropogenic Emissions by Sources and Removals of Greenhouse Gases; data available in the Fourth National Communication of Brazil to the UNFCCC.
- Rec 2 (Energy Accounts): Being addressed. IBGE published Environmental-Economic Accounts for Energy Products from Biomass (2015-2018 with biomass products); Energy Accounts: Biomass Products in Brazil compiled with Energy Research Company.
- Rec 3 (Carbon Footprints of FDI): Being addressed. Brazil compiles annual FDI stocks and flows; sectoral breakdowns available; further steps required to extend GHG estimates to FDI recipient sectors; development of definitions/taxonomies may be required.
- Rec 4 (Climate Finance — Green Debt and Equity Securities Financing): Being addressed. Self-commitments on debt securities only so far; work will build on DGI-2 experience.
- Rec 5 (Forward-Looking Physical and Transition Risk Indicators): Being addressed. Preliminary forward-looking physical risk indicators compiled; BCB contributed to online survey.
- Rec 6 (Climate-Impacting Government Subsidies): Being addressed. Brazil produces data for IMF Climate Change Indicators Dashboard and working with IADB to compile climate-related expenditure data; intends to adapt IADB methodology as guidance develops.
- Rec 7 (Mitigation and Adaptation Expenditures): Not immediate priority given resources. Brazil intends to compile General Government climate mitigation and adaptation expenditures per Rec 7; expansion beyond General Government not possible in near future.
- Rec 8 (Distribution of Household Income, Consumption and Savings): Not immediate priority. IBGE updating national accounts reference year (2021) for compatibility with ISIC rev. 5 and 2025 SNA; experimental studies at income quintile level underway; plans to release distribution estimates after methodological review associated with 2025 SNA update.
- Rec 9 (Distribution of Household Wealth): Not immediate priority. Measuring non-financial balance sheet remains higher priority (capital stock and consumption of fixed capital).
- Rec 10 (Fintech Credit): Being addressed. Brazilian Central Bank reports outstanding loans via regulated P2P platforms and other regulated fintech credit entities to FSB NBFI 2024 exercise.
- Rec 11 (Digital Money): Being addressed. BCB publishes monthly crypto-asset data with External Sector Statistics; data revised in July 2024 after BPM7 treatment of crypto assets as non-produced assets.
- Rec 12 (Fintech-enabled Financial Inclusion): Being addressed. BCB working with Task Team on definitions, methodologies, templates.
- Recs 13 & 14 (Data Access and Sharing): Access and sharing infrastructure unchanged from 2022 to 2023.

### Canada — Progress Across Recommendations
- Rec 1 (GHG Emission Accounts and Carbon Footprints): Not immediate priority; aiming for second-best target (2 out of 3 components met). SUTs disseminated; air emission accounts partially met (total for three pollutants 2009-2021; by pollutant 2018-2021). Aim to publish GHG by gas type for 2009-2017 during 2024/2025 fiscal year. Consumption-based carbon footprint not produced; internal emissions located in final demand table.
- Rec 2 (Energy Accounts): Being addressed. Working to close data gaps for energy table by province (second-best target). No resources for energy supply table as Report on Supply and Demand already provides fuel type by industry by province.
- Rec 3 (Carbon Footprints of FDI): Being addressed; dependent on forthcoming clarifications/guidance and national priorities.
- Rec 4 (Climate Finance — Green Securities): Being addressed; Canada has comprehensive security-by-security statistics on issuers; additional funds needed to track/identify green securities consistent with HSS.
- Rec 5 (Forward-Looking Risk Indicators): Not immediate priority; commitment to be reassessed with further guidance on concept note, methodology and indicators.
- Rec 6 (Climate-Impacting Government Subsidies): Not immediate priority given resources.
- Rec 7 (Mitigation and Adaptation Expenditures): Being addressed. Development of Environmental Protection Expenditure Accounts (EPEA) will resume in July 2024.
- Rec 8 & Rec 9 (Distributional Household Accounts): Data gap closed. Canada meets 2nd best targets; distributions for income, consumption, saving and wealth published in The Daily (statcan.gc.ca).
- Rec 10 (Fintech Credit): Being addressed. Canada disseminates an Economic Account for Non-bank Financial Intermediation; target to populate required NBFI details in 2025 on best-efforts basis.
- Rec 11 (Digital Money): Being addressed. Commitment dependent on resources and consultations; developing data collection framework to reflect digital money in macroeconomic accounts.
- Rec 12 (Fintech-enabled Financial Inclusion): Not immediate priority; limited/targeted work aligned with Recommendation 10 efforts.
- Recs 13 & 14: Access to private/admin data and data sharing unchanged in 2023 vs 2022.

### China — Statistical Developments and Data Sharing
- Rec 1 (GHG Emission Accounts and Carbon Footprints): Data gap closed. NBS published input-output tables for 2010, 2012, 2015, 2017, 2018, and 2020. Ministry of Ecology and Environment submitted four National Communications and three Biennial Update Reports to UNFCCC including national GHG inventories of 1994, 2005, 2010, 2012, 2014, 2017 and 2018.
- Rec 2 (Energy Accounts): Being addressed. Annual energy balance sheets disclosed in “China Energy Statistical Yearbook.”
- Rec 3 (Carbon Footprints of FDI): Being addressed but requires IMF specification of data requirements and instructions.
- Rec 4 (Climate Finance — Green Securities): Being addressed. People’s Bank of China established debt securities statistical system per HSS and is revising China’s green bond standard for future green bond data publication.
- Rec 5 (Forward-Looking Risk Indicators): Not immediate priority; financial regulators working to establish climate risk test scenarios appropriate for China.
- Rec 6 & Rec 7 (Climate-Impacting Subsidies; Mitigation and Adaptation Expenditures): Being addressed. China MoF issued Working Guidance on Fiscal Support for Carbon Dioxide Peaking and Carbon Neutral in 2022; some subsidy information available through Central Budget and Final Accounts Public Platform (see https://www.mof.gov.cn/zyyjsgkpt/ and https://yss.mof.gov.cn/2022zyjs/202308/t20230825_3904170.htm).
- Rec 8 & Rec 9 (Distributional Income/Wealth): Not immediate priority. Primary work focused on monitoring global statistical methods; NBS lacks foundation/plans for wealth distribution statistics.
- Rec 10 (Fintech Credit): Being addressed. National Financial Regulatory Authority conducts statistics on online microloans by consumer finance and microloan companies.
- Rec 11 (Digital Money): Being addressed. China prohibits crypto asset activities; e-CNY pilot ongoing with collaborative data collection and continuous adjustments to collection and metrics framework.
- Rec 12 (Fintech-enabled Financial Inclusion): Being addressed. E-CNY wallets categorized by KYC level; anonymous wallets preclude identity-based classification, limiting income/gender analyses for some wallet types.
- Recs 13 & 14 (Data Access and Sharing): Improved since 2022. NBS opened more micro-datasets (industrial enterprises, 7th Population Census, household survey micro-datasets). Administrative records applied in Fifth National Economic Census; NBS signed data sharing agreement with National Healthcare Security Administration; increased use of big data (online transaction prices, scanner data) in CPI.

### France — Closed and Addressed Gaps
- Rec 1 (GHG Emission Accounts and Carbon Footprints): Closed. Disseminates Supply and Use Tables, Symmetric Input-Output Tables, Air Emission Accounts, and Consumption-based Carbon Footprints.
- Rec 2 (Energy Accounts): Closed. Energy accounts are published.
- Rec 3 (Carbon Footprints of FDI): Not immediate priority. FDI statistics available on Banque de France Webstat; clarification needed between carbon footprint of FDI vs MNE activity.
- Rec 4 (Climate Finance — Green Securities): Being addressed. Timeline for green bond dissemination set for Q4 2025 (first reporting).
- Rec 5 (Forward-Looking Risk Indicators): Being addressed. Indicators disseminated include exposure to coastal erosion, climate scenarios, water exposure to natural hazard observation, forward-looking exposure to natural hazards, and climate change adaptation plan. Transition risk implementation timeline being defined.
- Rec 6 (Climate-Impacting Government Subsidies): Being addressed. Favorable environmental subsidies and similar transfers to be transmitted to Eurostat from 2025 under revised regulation 691/2011. France reports voluntary fossil fuel subsidy estimates to OECD covering 2016 to 2023.
- Rec 7 (Mitigation and Adaptation Expenditures): Being addressed. Capital expenditure on mitigation to be transmitted to Eurostat from 2025 under revised regulation 691/2011. Institute for Climate Economics provides estimation and forward-looking investment needs.
- Rec 8 (Distributional Household Accounts): Being addressed. Initial distributional analyses for 2018 and 2019 disseminated; next publication scheduled for November 2024 covering 2015 to 2022.
- Rec 9 (Distribution of Household Wealth): Closed. DWAs compiled per ECB Expert Group on Distributional Financial Accounts; experimental quarterly Euro Area estimates released quarterly (five months after closing) at wealth decile level by ECB and available via Banque de France. Ongoing investigations to include defined contribution pension entitlements (F.63) and currency (F.21).
- Rec 10–12 (Fintech Credit, Digital Money, Fintech-enabled Inclusion): Not immediate priorities given resources. Digital currency data collection exercise planned for 2025 and may be partial.
- Recs 13 & 14: Access to private/admin data and data sharing unchanged in 2023 vs 2022.

### Germany — Data Production and Planned Publications
- Rec 1 (GHG Emission Accounts and Carbon Footprints): Closed. DESTATIS publishes SUTs, Air Emission Accounts and Consumption-based Carbon Footprints; also disseminated by Eurostat.
- Rec 2 (Energy Accounts): Closed. DESTATIS publishes Energy Accounts; Eurostat publishes Energy data for Germany.
- Rec 3 (Carbon Footprints of FDI): Not immediate priority due to resource and data limitations.
- Rec 4 (Climate Finance — Green Securities): Being addressed. ESCB Centralised Securities Database (CSDB) contains security-by-security data on green debt securities since December 2020; CSDB use restricted within ESCB. Plans to expand ESG coverage to green listed shares and green investment fund shares. Bundesbank to publish aggregate graphs on green bonds for Germany and EU-27 (Green finance dashboard). ECB released experimental indicators on sustainable finance in January 2023. Bundesbank accesses company-level GHG emissions from two commercial vendors (ISS and Carbon4Finance) and exploring extraction from company reports.
- Rec 5 (Forward-Looking Risk Indicators): Being addressed. Examining various data sources including private providers and satellite/AI technologies to aggregate company-level to sector/country breakdowns.
- Rec 6 (Climate-Impacting Government Subsidies): Being addressed. Environmental Protection data available; ESST time series starts at reporting year 2021 with t+24 months EU delivery; no plan for pre-2021 series. International methodological standard for potentially environmentally damaging subsidies (PEDS) expected from SEEA-CF revision.
- Rec 7 (Mitigation and Adaptation Expenditures): Being addressed but not highest priority. Preliminary methodology under development; draft expected during upcoming London Group meeting in October.
- Rec 8 (Distribution of Household Income, Consumption and Savings): Being addressed. Internal project started January 2024; first experimental data planned for 2026.
- Rec 9 (Distribution of Household Wealth): Closed. Deutsche Bundesbank compiles DWAs per ECB Expert Group; updated and published quarterly since beginning of 2024; PHF wealth survey every three years.
- Rec 10–12 (Fintech Credit, Digital Money, Fintech-enabled Inclusion): Not immediate priorities. Work on Recs 11 and 12 recently started; extent of meeting targets dependent on final definitions and national data availability. MiCAR entered into effect in 2023 with phased application dates through 30 December 2024.
- Recs 13 & 14: Improvements in inter-authority data exchange between 2022 and 2023; linked microdata set on foreign trade created from Bundesbank and Destatis data and made available for external research.

### India — Statistical Activities and Priorities
- Rec 1 (GHG Emission Accounts and Carbon Footprints): Being addressed. India periodically submits National Communications and Biennial Update Report with national GHG inventory publicly available.
- Rec 2 (Energy Accounts): Being addressed. Energy Accounts compiled by NSO, India in 2022 and available at Ministry’s website (https://www.mospi.gov.in/); exploring updates using Energy Statistics and SEEA Energy Framework with contextual adjustments for data granularity.
- Rec 3 (Carbon Footprints of FDI): Being addressed. Internal stakeholder consultations underway.
- Rec 4 (Climate Finance — Green Securities): Not immediate priority. Some green debt securities data available on Securities and Exchange Board of India website (includes issuer name, issuance date, maturity date, amount raised, coupon, tenure and ISIN number) (https://www.sebi.gov.in/statistics/greenbonds.html).
- Rec 5–7 (Forward-Looking Risks; Climate-Impacting Subsidies; Mitigation and Adaptation Expenditures): Being addressed; internal consultations underway.
- Rec 8 (Distribution of Household Income, Consumption and Savings): Not immediate priority. Percentage share of consumption by classes available via Household Consumption Expenditure Survey.
- Rec 9 (Distribution of Household Wealth): Not immediate priority.
- Rec 10 (Fintech Credit): Being addressed. Information on non-banks such as P2P lenders to be available from current round of data reporting.
- Rec 11 (Digital Money): Being addressed for CBDCs. RBI publishes CBDC in circulation in internal weekly statement of affairs and publicly in annual balance sheet. RBI views cryptoassets/stablecoins as not equivalent to CBDC; DGI should note jurisdictional policy differences.
- Rec 12 (Fintech-enabled Financial Inclusion): Being addressed (https://website.rbi.org.in/...).
- Rec 13 (Access to private/admin data): Improved since 2022 with examples:
  - Ministry of Mines launched National Mines Data Repository (NMDR) and National Geoscience Data Repository (NGDR) in 2023 for centralized access.
  - Ministry of Health and Family Welfare: 2023 real-time EHR access improved hospital admissions and outcomes analysis.
  - Ministry of Transport: 2023 deployment of smart traffic sensors provided continuous real-time traffic data.
- Rec 14 (Data Sharing): Level of data sharing unchanged in 2023 vs 2022.

### Indonesia — Progress and Outstanding Assessments
- Note: Economy has not submitted updated inputs for recommendations 1-9.
- Rec 1 & Rec 2 (GHG Emission Accounts; Energy Accounts): Being addressed via in-depth study and inter-ministerial collaboration to reconcile multiple data sources.
- Rec 3 & Rec 4 (Carbon Footprints of FDI; Climate Finance): Unable to assess at this stage; further consultation required. Coordination needed between G20 SFWG and G20 DGI to align disclosure standards with DGI data needs.
- Rec 5 (Forward-Looking Risk Indicators): Unable to assess at this stage; further consultation required.
- Rec 6 (Climate-Impacting Government Subsidies): Being addressed; data currently in calculation process.
- Rec 7 (Mitigation and Adaptation Expenditures): Being addressed. Data provided in Climate Budget Tagging.
- Rec 8 & Rec 9 (Distribution of Household Income; Distribution of Household Wealth): Being addressed. Underlying distributions from household surveys exercised; compiling agency empowered via Memorandum of Understanding for granular administrative data access; further collaboration and OECD technical assistance needed.
- Rec 10 (Fintech Credit): Being addressed. Some fintech credit data already published.
- Rec 11 (Digital Money): Not immediate priority. Under Project Garuda, Bank Indonesia issued white paper and consultative paper on Digital Rupiah high-level design; timeline for issuance undecided. Digital Rupiah will capture granular real-time data; Bank Indonesia prohibits crypto assets as means of payment (crypto recognized as investment tool). Further discussion on crypto asset data needed with relevant authorities.
- Rec 12 (Fintech-enabled Financial Inclusion): Being addressed. Task team stock-taking survey results periodically published (electronic money, mobile money, mobile and internet banking); Indonesia participates regularly in IMF FAS.
- Rec 13 (Access to private/admin data): Access increased in 2024 vs 2023 with restrictions/safeguards for privacy.
- Rec 14 (Data Sharing): Level of data sharing within national statistical system improved since (content ends here).

*Source: https://www.imf.org/-/media/files/news/seminars/dgi/documents/third-phase-of-the-g20-data-gaps-initiative-second-progress-report.pdf*

### 2023. Data interoperability in Indonesia is still under development, but there is progress and ongoing

### third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 2023. Data interoperability in Indonesia is still under development, but there is progress and ongoing efforts to address challenges.

### Indonesia — Data interoperability and One Data Indonesia Portal
- The One Data Indonesia Portal has been operating for the last few years and provides access to government data that has been interoperated.
- Several government agencies have implemented data interoperability within their internal scope.
- The private sector is starting to show interest in data interoperability.
- Status: interoperability is still under development, with progress and ongoing efforts to address challenges.

### Italy — Progress by recommendation (Rec 1–Rec 14)
- Rec 1: GHG Emission Accounts and National Carbon Footprints
  - Status: The data gap is closed.
  - ISTAT publishes SUTs 2010-2020 (break in series in 2015): 2010–2015, 2015–2020.
  - Air Emission Accounts 2008–2022 (2022 provisional data).
  - Consumption-based carbon footprints 2008–2020 (2020 provisional data).
- Rec 2: Energy Accounts
  - Status: The data gap is closed.
  - ISTAT disseminates Physical Energy Flow Accounts (PEFA) 2008–2021.
- Rec 3: Carbon Footprints of FDI
  - Status: The data gap is being addressed.
  - Available and published: (1) FDI positions and flows data by economy and industry (for the period 2005–2022), (2) data on activities of foreign-controlled firms in the reporting economy and on the overseas activities of MNEs 2008–2021 (“Foreign affiliates statistics”), (3) data on imports and exports of goods and services by enterprise characteristics: trade of goods (movement of goods basis) by type of ownership currently published up to 2022.
  - The first data release on trade of services (change of ownership basis) by enterprise characteristics by type of ownership (referred to 2022) were produced, but not yet disseminated, in June 2024.
  - ISTAT currently publishes "carbon emission intensities by industry."
  - Carbon emissions of MNEs by ownership are yet to be produced due to lack of a sound methodology and resources; closing this gap depends on methodological developments and feasibility.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing)
  - Status: The data gap is being addressed.
  - Green debt securities published through ECB data portal.
  - Work to assess a common definition of green share is ongoing.
- Rec 5: Forward Looking Physical and Transition Risk Indicators
  - Status: The data gap is being addressed.
  - Forward looking indicators (mainly at a country level) on physical risk have been developed, calculated, and published under an expert group coordinated by the ECB in close collaboration with NCAs, including the Bank of Italy.
  - Timing and content of main target remain too ambitious given persisting lack of robust methodologies, particularly for transition risk, and poor availability of granular, worldwide, and reliable inputs (observed data and scenarios).
  - Recommendation: adopt a more gradual approach, initially focusing on the second-best target.
- Rec 6: Climate-Impacting Government Subsidies
  - Status: The data gap is being addressed.
  - Climate-Sustaining Schemes: work fits into ISTAT’s effort to estimate ‘Environmental subsidies and similar transfers (ESST).’ Starting from 2025 data collection, data will be based on the classification of environmental purposes (CEP), adopted by the United Nations Statistical Commission in March 2024.
  - ISTAT plans to estimate Climate sustaining subsidies on the basis of ESST, selecting CEP items relevant for climate change mitigation. Shortcoming: climate mitigation activities excluded from CEP scope cannot be estimated.
  - Climate-Damaging Schemes: Environment Ministry selected 18 measures relevant for climate change from its “Catalogue of environmentally friendly subsidies and environmentally harmful subsidies”; these are identified in Italy's National Energy and Climate Plan as priority items for reform.
- Rec 7: Climate Change Mitigation and Adaptation Expenditures
  - Status: The data gap is being addressed.
  - Mitigation: ISTAT aims to provide estimates on the basis of environmental accounts. Capital expenditure source: Environmental Goods and Services sector (EGSS); EPEA can provide base for current expenditure estimates.
  - From 2025 data collection, environmental accounts will adopt CEP mapping; ISTAT has conducted a first exercise estimating value added and full-time equivalent employees (FTE) engaged in climate change mitigation activities using CEP mapping.
  - Shortcoming: climate mitigation activities outside CEP cannot be estimated.
  - Adaptation: No progress reported; no data sources currently available (adaptation not within scope of environmental accounts) and no targeted projects.
- Rec 8: Distribution of Household Income, Consumption and Savings
  - Status: The data gap is being addressed.
  - Italy produces estimates of household income distribution in line with national accounts totals; latest estimates refer to 2021 available at level of income decile and household type; entire series (2015–2021) published at Eurostat.
  - Work ongoing on distribution of household consumption in line with national accounts totals; production of household consumption distribution estimates (breakdowns by quintile) could be developed and disseminated by the end of 2025 (for years 2021–2022).
  - Project to reconstruct joint distribution of income, consumption and wealth via statistical matching; synthetic database reconciled with national accounts; results could be available by the end of 2025.
- Rec 9: Distribution of Household Wealth
  - Status: The data gap is closed.
  - Distributional Wealth Accounts (DWAs) compiled by the Bank of Italy per ECB Expert Group on Distributional Financial Accounts methodology.
  - DWAs published quarterly since beginning of 2024 via Bank of Italy website and the ECB Data Portal.
  - Several items remain under discussion for final target at end-2026; work ongoing with EG DHW and ECB’s EG DFA to assess inclusion in 2026 transmission.
- Rec 10: Fintech Credit
  - Status: The data gap is being addressed.
  - Data transmitted to annual FSB monitoring exercise on NBFI.
  - Fintech credit in Italy mainly originates from marketplace platforms managed by financial auxiliaries or non-bank entities as a secondary business.
  - Following the register of crowdfunding business entities in November 2023, Bank of Italy started semi-annual data collection on crowdfunding; available data refer to December 2023 and cover Fintech credit activities from Non-bank Italian entities.
  - Due to limited number of reporting agents, collected data treated as confidential and not transmitted to annual monitoring exercise on NBFI; this limitation will presumably be removed for 2025 data.
- Rec 11: Digital Money
  - Status: The data gap is being addressed.
  - Relevant information from crypto-asset providers expected with entry into force of MiCAR; regulation approved by Italian Government in September 2024 and will be applicable from December 2024. Data availability will take some time.
  - Bank of Italy acquiring granular on-chain data from commercial providers for additional information.
  - Ongoing monitoring using internal ad-hoc surveys among non-financial companies and households and external information from OAM and AGE.
- Rec 12: Fintech-enabled Financial Inclusion
  - Status: The data gap is being addressed.
  - In line with Financial Access Survey (FAS) submissions: some services available (e.g., e-wallets) but data are not yet collected.
- Rec 13: Access to private and administration data
  - Status: Level of access improved.
  - Between 2022 and end-2023 new agreements signed between Bank of Italy and partners including public authorities (e.g., Ministry of Infrastructures and Transport, Italian customs agency ADM) and private partners (e.g., UNRAE).
- Rec 14: Data Sharing
  - Status: Improved between Bank of Italy and ISTAT.
  - Establishment of a remote laboratory allowing Bank of Italy researchers to access ISTAT elementary data; prototype intended for replication within National Statistics System (Sistan) to recognized partners.

### Japan — Progress by recommendation (Rec 1–Rec 14)
- Rec 1: GHG Emission Accounts and National Carbon Footprints
  - Status: The data gap is being addressed.
  - SUT for 2011–2020 (current year -4) published.
  - Air Emission Accounts organization not established; only GHG inventories per Convention available.
  - Ministry of the Environment and Ministry of Economy, Trade and Industry issued guidelines on carbon footprint calculation methods and run model projects to support calculation and display of carbon footprints.
- Rec 2: Energy Accounts
  - Status: The data gap is closed.
  - Japan releases an annual database for energy accounts covering natural energy inputs, energy products, and residuals derived from methodologies basically consistent with SEEA-CF.
- Rec 3: Carbon Footprints of FDI
  - Status: The data gap is being addressed.
  - Progress on targets 1 and 4: Japan published FDI positions and flows by region and industry consistent with BD4 and BPM6.
  - Mandatory GHG Accounting and Reporting System allows emitters to report overseas emissions from 2023; disclosure alongside domestic emissions.
  - Progress on targets 2 and 3 is difficult to assess due to lack of clarity on needed data for activities of foreign-controlled firms and overseas activities of MNEs, and for imports/exports by enterprise characteristics differentiating movement of goods and change of ownership for services.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing)
  - Status: The data gap is being addressed.
  - Two databases on green bonds covering domestic issuance: Green Finance Portal (Ministry of the Environment) and ESG Bond Information Platform (Japan Exchange) (Japanese).
  - 2022: Japan Exchange Group launched a database for sustainable bonds covering green bonds, social bonds, sustainability-linked-bonds.
  - Ministry of the Environment runs database since 2018 for green bonds, green loans, sustainability-linked bonds and loans, covering public offering and private placement bonds, including policy information and domestic guidelines.
- Rec 5: Forward Looking Physical and Transition Risk Indicators
  - Status: The data gap is being addressed.
  - Participating ministries have not reached agreement on work plan implementation timelines, sources and data to be identified, and development of statistical infrastructures.
- Rec 6: Climate-Impacting Government Subsidies
  - Status: The data gap is being addressed.
  - Cross-ministerial definition, methodology and coordination system not fully agreed; statistical capacities and infrastructures need improvement to compile and access necessary administrative data.
- Rec 7: Climate Change Mitigation and Adaptation Expenditures
  - Status: The data gap is being addressed.
  - Cross-ministerial definition and methodology not fully agreed; statistical capacities and infrastructures need improvement.
- Rec 8: Distribution of Household Income, Consumption and Savings
  - Status: The data gap is being addressed.
  - Japan is considering methodology based on OECD Expert Group on Disparities in a National Accounts framework.
- Rec 9: Distribution of Household Wealth
  - Status: The data gap is being addressed.
  - Japan is considering methodology based on OECD Expert Group on the Distribution of Household Wealth.
- Rec 10: Fintech Credit
  - Status: The data gap is not an immediate priority given available resources.
- Rec 11: Digital Money
  - Status: The data gap is not an immediate priority given available resources.
  - Selection of target subject to further discussion; common data collection framework under discussion within Rec 11 task team.
  - CBDC experiments are ongoing.
  - Japan enforced a registration system for Crypto Asset Exchange Service Providers in April 2017; regulatory framework for stablecoin issuer and service providers established in June 2023.
  - Regulated crypto and stablecoin entities report information required for financial supervision; FSA can utilize blockchain analysis tools if necessary.
- Rec 12: Fintech-enabled Financial Inclusion
  - Status: The data gap is being addressed.
  - Participating ministries have not reached agreement on how to proceed with work plan implementation timelines, sources, and statistical infrastructure development.
- Rec 13 & Rec 14: Access to private and administrative data; Data Sharing
  - Status: No change in 2023 compared to 2022.

### Republic of Korea — Progress by recommendation (Rec 1–Rec 14)
- Rec 1: GHG Emission Accounts and National Carbon Footprints
  - Status: Not an immediate priority given available resources.
  - National Inventory Report available for 2010 to 2020 from GIR but not classified according to standard industry classification; further consultation required.
- Rec 2: Energy Accounts
  - Status: Not an immediate priority given available resources.
  - Energy supply and use allocation to industries requires further consultation and stakeholder coordination.
- Rec 3: Carbon Footprints of FDI
  - Status: Not an immediate priority given available resources.
  - Lack of data linking FDI enterprises and GHG emissions prevents addressing this gap.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing)
  - Status: The data gap is being addressed.
  - Plans to discuss and estimate issuances of green debt securities in 2024.
- Rec 5: Forward Looking Physical and Transition Risk Indicators
  - Status: The data gap is being addressed.
  - Bank of Korea used scenario analysis to examine transition risks impact on financial system in 2021 and analyzed chronic physical risks on economic growth in 2023.
  - Bank of Korea working with Korea’s Financial Supervisory Service to develop risk indicators and assessment models for financial institutions to evaluate physical and transition risks.
- Rec 6 & Rec 7: Climate-Impacting Government Subsidies and Climate Change Mitigation and Adaptation Expenditures
  - Status: Not an immediate priority given available resources.
- Rec 8: Distribution of Household Income, Consumption and Savings
  - Status: The data gap is closed.
  - June 2024: Korea developed and disseminated household distributional accounts from 2018 to 2022.
  - Korea plans to publish accounts annually 18 months after the concerned year.
- Rec 9: Distribution of Household Wealth
  - Status: Not an immediate priority given available resources.
  - Unable to meet Target and Second-Best Target due to lack of necessary data; timeline to begin addressing will be reviewed if conditions improve.
- Rec 10: Fintech Credit
  - Status: The data gap is being addressed.
  - Rapid fintech growth makes collection necessary, but selection of subjects and methods not yet established; several years expected to complete data collection and verification.
- Rec 11: Digital Money
  - Status: The data gap is being addressed.
  - Korea preparing for a CBDC usability test and researching incorporation into monetary indicators.
- Rec 12: Fintech-enabled Financial Inclusion
  - Status: The data gap is being addressed.
  - BOK periodically disseminates statistics on customers of internet and mobile banking, transaction value and volume, and statistics on electronic payment services such as electronic pre-paid payment instruments.
  - Improvements constrained by overlapping figures when statistics categorized by income and gender; BOK conducts surveys every two years but surveys do not cover same individuals, complicating use as official statistics.
- Rec 13 & Rec 14: Access to private and administrative data; Data Sharing
  - Status: No change in 2023 compared to 2022.

### Mexico — Progress by recommendation (Rec 1–Rec 9)
- Rec 1: GHG Emission Accounts and National Carbon Footprints
  - Status: The data gap is being addressed.
  - Mexico has a greenhouse gas emissions inventory with IPCC classification prepared by the Ministry of the Environment.
  - Compilation of accounts with ISIC classification must be agreed by international bodies.
  - Mexico developing accounts for air pollutant emissions in accordance with SCAE-CF and for "criteria pollutants" with North American Industrial Classification System.
- Rec 2: Energy Accounts
  - Status: The data gap is being addressed.
  - Ministry of Energy has energy supply and use table available but needs improvement to meet recommendation requirements.
- Rec 3: Carbon Footprints of FDI
  - Status: The data gap is being addressed.
  - Progress in FDI data exists but linkage with carbon footprint unit, Central Bank, Ministry of Economy and Ministry of Environment needs discussion.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing)
  - Status: The data gap is being addressed.
  - Process to obtain statistics is being developed covering issuances and holdings of green, sustainability and sustainability-linked bonds in accordance with DGI 2 Recommendation 7 data structure; information will be delivered as stated in self-commitments.
- Rec 5: Forward Looking Physical and Transition Risk Indicators
  - Status: The data gap is being addressed.
  - Mexico has SEEA-CF and a pilot study implementing ecosystem accounts with stakeholders to develop statistical and geographic information with geographic and sectoral breakdown.
  - Further consultation with national stakeholders and methodological support required to develop physical and transition risk indicators.
- Rec 6: Climate-Impacting Government Subsidies
  - Status: The data gap is being addressed.
  - Responsibility of Ministry of Finance; greening of public finances has recently deepened and challenge remains to classify spending (especially subsidies) by climate impact; further consultation required.
- Rec 7: Climate Change Mitigation and Adaptation Expenditures
  - Status: The data gap is being addressed.
  - Resources for adaptation and migration of climate change defects are allocated.
  - Explanations related to allocations contained in PEF 2024 Project explanatory memorandum (pages 207 to 209) referenced.
- Rec 8: Distribution of Household Income, Consumption and Savings
  - Status: The data gap is being addressed.
  - Mexico aligned with first best objective publishing distribution of household income, consumption, and savings in line with national accounts totals for years 2008, 2010, 2012, 2014, 2016, 2018, 2020, and 2022 using updated internationally agreed templates and methodologies with breakdowns by quintile and decile, main source of income, and household type.
  - Results sent periodically to OECD and published on OECD website.
  - Mexico publishes distribution results biennially using ENIGH every two years; reviewing techniques and complementary sources to obtain annual results.
  - Pareto adjustment work ongoing applying adjustment to income variables, with planned future presentation of results.
- Rec 9: Distribution of Household Wealth
  - Status: The data gap is being addressed.
  - Mexico aims to submit data for financial assets for 2019 without adjustment in the September data collection following internationally agreed methodologies using templates; project will use 2019 ENFIH and will be complemented in following years.

*Source: third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 2023. Data interoperability in Indonesia is still under development, but there is progress and ongoing efforts to address challenges.*

### Annex 16 “Resources for adaptation and mitigation of the effects of climate change” of the Expenditure Budget of the Fed

### third-phase-of-the-g20-data-gaps-initiative-second-progress-report - Annex 16 “Resources for adaptation and mitigation of the effects of climate change” of the Expenditure Budget of the Federation

### Mexico — summary of recommendations and implementation status
- Rec 10: Fintech Credit.
  - The data gap is being addressed.
  - An information requirement is being designed based on an internal review of business model documentation provided by Fintech companies to gather data needed to calculate the proposed core supply-side indicators and credit provided by Fintech firms.
  - Reporting by Fintech Firms to the Central bank is planned to start in 2024Q4.
  - Information related to aspirational indicators will be requested in 2025Q4.
- Rec 11: Digital Money.
  - The data gap is being addressed.
  - Mexico encourages a healthy distance between virtual assets and the traditional financial system: financial entities are encouraged to avoid positions or investments in virtual assets, avoid accepting them as collateral, and avoid financing clients with those assets.
  - Financial authorities monitor market developments to pinpoint implications for financial stability and, if needed, promote measures to safeguard it.
  - Based on information requirements from financial technology institutions planned for fourth quarter of 2024, flows in virtual assets will be collected.
- Rec 12: Fintech-enabled Financial Inclusion.
  - The data gap is being addressed.
  - An information requirement is being designed to obtain information required to calculate proposed core supply-side indicators.
  - Reporting is planned to start in third and fourth quarter of 2024.
  - Information related to aspirational indicators will be requested in 2025Q4.
  - For banks, this information will be collected in 2026.
- Rec 13: Access to private and administration data.
  - The level of access to private and administrative data and data sharing has not changed in 2023 compared to 2022.
  - In Mexico, a big share of data exchange is based on the National Statistical and Geographic Information System and the law corresponding to this System; reforms in 2022-2023 did not change the part corresponding to the exchange of information.
- Rec 14: Data Sharing.
  - The level of access to private and administrative data and data sharing has not changed in 2023 compared to 2022.

### Russia — summary of recommendations and implementation status
- Rec 1: GHG Emission Accounts and National Carbon Footprints.
  - The data gap is being addressed.
  - Emphasis on compilation of the GHG emissions accounts, carried out annually according to the Federal Statistical Work Plan.
  - Guidelines on recording for these accounts are available.
- Rec 2: Energy Accounts.
  - The data gap is not an immediate priority area for the national authorities, given the available resources.
- Rec 3: Carbon Footprints of FDI.
  - The data gap is being addressed.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing).
  - The data gap is being addressed.
  - Data on sustainable development debt issues, including domestic green debt securities, is published on a monthly basis starting from mid-2023.
  - The publication contains breakdowns of securities data, including breakdowns by issuer/holder sector, maturity, and interest rate.
- Rec 5: Forward Looking Physical and Transition Risk Indicators.
  - The data gap is being addressed.
  - Data is currently in the process of being collected and has not been released to the public.
  - In 2021, the Ministry of Economic Development released methodological recommendations for assessing physical climate risks, identifying significant climate risks, compiling a classification, and determining hazard levels and corresponding indicators.
  - In 2023, the Ministry published recommendations on assessing the potential impact of physical climate risks on economic sectors and regions, including lists of climate-sensitive objects and assessing direct and indirect damage based on different scenarios and types of physical risks.
  - The Bank of Russia is developing indicators for physical and transition-related climate risks but has not announced specific plans or deadlines.
- Rec 6: Climate-Impacting Government Subsidies.
  - The data gap is not an immediate priority area for the national authorities, given the available resources.
  - Work is underway on drafting guidelines for recording climate-impacting government subsidies.
- Rec 7: Climate Change Mitigation and Adaptation Expenditures.
  - The data gap is not an immediate priority area for the national authorities, given the available resources.
- Rec 8: Distribution of Household Income, Consumption and Savings.
  - The data gap is not an immediate priority area for the national authorities, given the available resources.
  - ROSSTAT is the national agency responsible and planning on addressing this data gap is under consideration.
- Rec 9: Distribution of Household Wealth.
  - The data gap is not an immediate priority area for the national authorities, given the available resources.
  - ROSSTAT is the agency in charge; planning on addressing this data gap is under consideration.
- Rec 10: Fintech Credit.
  - The data gap is not an immediate priority area for the national authorities, given the available resources.
- Rec 11: Digital Money.
  - The data gap is not an immediate priority area for the national authorities, given the available resources.
  - Timeline for the target is conditional.
  - A pilot project is underway to introduce the digital Ruble; so far transaction volumes are insignificant and do not indicate a significant impact on the financial market.
  - The Bank of Russia plans to collect the necessary data upon launching the digital Ruble into circulation.
  - The Bank of Russia is an active member of the DGI-3 Rec.11 Task Team, participated in stocktaking and workshops on digital money and crypto assets, and a representative is a member of the Focus Group developing digital money data collection templates.
- Rec 12: Fintech-enabled Financial Inclusion.
  - The data gap is not material for the economy.
  - Based on the Bank of Russia’s assessment of the stocktaking exercise (August 2023) and the IMF’s FAS pilot data collection on DFSs (April 2024), the data gap is not material for Russia and lack of data is not an impediment to effective policy.
  - The Bank of Russia promotes equal and fair access to quality financial products and services, conventional and fintech-enabled, for the whole population and micro, small and medium entrepreneurs.
  - Gender inequality in access to financial services is not an issue for the Bank of Russia.
  - Digitalization of the financial market and development of the payment infrastructure are priorities in the Russian Financial Market Development Programme For 2024–2026 and the Priority Financial Inclusion Programme For 2022–2024.
  - Current digital financial services indicators include supply-side data (from financial institutions’ reports) and demand-side data (surveys of adult population and SMEs once every three years for ‘Financial Inclusion Indicators’).
  - Key indicators for digital financial services and payment services are published on the Bank of Russia’s website.
  - The Bank of Russia will continue participating in the DGI-3 Rec.12 Task Team and may revise digital financial services’ data collection aiming for the second-best target; data collection will be balanced by costs to providers and related parties.
- Rec 13: Access to private and administration data.
  - The level of access to private and administrative data and data sharing has not changed in 2023 compared to 2022.
- Rec 14: Data Sharing.
  - The level of access to private and administrative data and data sharing has not changed in 2023 compared to 2022.

### Saudi Arabia — summary of recommendations and implementation status
- Rec 1: GHG Emission Accounts and National Carbon Footprints.
  - The data gap is not an immediate priority area for the national authorities, given available resources.
  - It is unclear whether the gap can be accurately assessed at this stage; further consultation with national stakeholders is required.
  - Reliable reporting procedures are being developed for current and future data collection; further interactions with pertinent parties are required to take stock of historical data and determine whether the gap can be accurately assessed.
- Rec 2: Energy Accounts.
  - The data gap is being addressed.
  - Some data on energy inputs used in power generation and data on energy products could be sourced.
  - Methods for residual estimate are still to be developed.
  - Further assessment is needed to determine if the data fits the purpose.
- Rec 3: Carbon Footprints of FDI.
  - The data gap is being addressed.
  - Regulations and mechanisms are being established to gather robust data on carbon footprints, but more work is needed.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing).
  - The data gap is being addressed.
  - The Green Financing Framework has been developed and published which encourages public and private initiatives towards climate and environmental finance.
- Rec 5: Forward Looking Physical and Transition Risk Indicators.
  - The data gap is not an immediate priority area for the national authorities, given available resources.
  - It is unclear whether the gap can be accurately assessed at this stage; further consultation with national stakeholders is required.
- Rec 6: Climate-Impacting Government Subsidies.
  - The data gap is not an immediate priority area for the national authorities, given the available resources.
- Rec 7: Climate Change Mitigation and Adaptation Expenditures.
  - The data gap is not an immediate priority area for the national authorities, given the available resources.
- Rec 8: Distribution of Household Income, Consumption and Savings.
  - The data gap is being addressed.
  - A Household Income and Expenditure Survey has been conducted; results will be used to cover the data gap.
- Rec 9: Distribution of Household Wealth.
  - The data gap is being addressed.
  - A Household Income and Expenditure Survey has been conducted; results will be used to cover the data gap.
- Rec 10: Fintech Credit.
  - The data gap is being addressed.
  - SAMA is developing specialized Prudential Returns to capture comprehensive data on loan portfolios, risk exposure, and performance indicators for Fintech credit.
  - SAMA is improving data collection efficiency and supports reporting data on Fintech credit as part of the annual FSB global annual monitoring exercise on NBFIs starting from 2025.
  - The data collection aims to derive meaningful global aggregates for monitoring financial stability risks in the sector.
- Rec 11: Digital Money.
  - The data gap is not an immediate priority area for the national authorities, given the available resources.
  - Virtual Assets Service Providers (VASPs) do not exist and the use of virtual currencies is not allowed in the Kingdom.
  - A comprehensive regulatory framework for virtual assets and VASPs is being developed.
- Rec 12: Fintech-enabled Financial Inclusion.
  - The data gap is being addressed.
  - Data on e-wallets, and mobile and internet banking transactions have been collected based on the IMF’s FAS guidance.
  - The economy is working on improvements of the coverage and quality of the data.
- Rec 13: Access to private and administration data.
  - The level of access to private and administrative data and data sharing has improved in 2023 compared to 2022.
- Rec 14: Data Sharing.
  - The level of access to private and administrative data and data sharing has improved in 2023 compared to 2022.

### South Africa — summary of recommendations and implementation status
- Rec 1: GHG Emission Accounts and National Carbon Footprints.
  - The data gap is being addressed.
  - The economy aims to compile and release its first Air Emission Accounts by March 2026.
  - Human resources at Statistics South Africa are insufficient and spread across activities in implementing South Africa’s National Natural Capital Accounting (NCA) Strategy.
  - Compilation of the first Air Emissions Account started in the 2023/2024 financial year and is assessed as a long-term project, expected to be released towards Q4 of 2025/2026.
  - The compilation of selected carbon and GHG emission accounts (Air Emission Accounts) is a ‘high road’ activity in the indicative implementation plan of South Africa’s National NCA Strategy — Goal 3, Strategic Objective 3.1, Output 3.1.3, and activity 3.1.3.3.
  - 'High Road' activities require additional human and financial resources; the key risk is the fiscal challenge to implement the NCA strategy given limited resources.
  - Compilers (DOEE, DFFE, and Statistics South Africa) are collaborating on the compilation of the first Air Emission Accounts and the update of South Africa’s Energy Accounts to address Rec 1 and Rec 2 and implement the National NCA Strategy.
  - Statistics South Africa engaged with the IMF about the IMF’s Air Emission Accounts tool; the tool is currently not fit for purpose for South Africa due to level of detail (Excel format) that DFFE reports to the UNFCCC; South Africa is looking to develop an alternative Excel-based tool.
- Rec 2: Energy Accounts.
  - The data gap is being addressed.
  - Energy Accounts for South Africa were compiled and published annually until 2017 (last reference year 2013).
  - Energy Balances are available from DOEE; the latest year for which data is available in 2024 is 2021.
  - Statistics South Africa is working on releasing the PEFA accounts for 2014 to 2021 by end March 2025.
- Rec 3: Carbon Footprints of FDI.
  - The data gap is being addressed.
  - South Africa compiles foreign liability stocks by kind of economic activity but does not publish FDI flow data by industry and does not report FDI according to BD4.
  - Challenges include feasibility of using domestic parent industry classification for foreign enterprises and inability to obtain an industry classification for every entity involved in equity and debt transactions.
  - Industry data is available for entities reporting on the B03/B30 surveys, but not for ITRS.
  - South Africa adheres as close as feasible to BPM6 but, not being an OECD member, does not compile FDI data according to BD4; directional principle changes would require major survey changes.
  - South Africa compiles and disseminates annual and quarterly FDI positions and flow statistics broadly consistent with BPM6; industry detail for FDI flows is not compiled.
  - South Africa will continue to participate in the carbon footprints for FDI task team to further develop reporting templates, and data and classification requirements.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing).
  - The data gap is being addressed.
  - A project plan for climate finance debt securities issuance statistics is in place.
  - Data on unlisted debt securities issuance will be added for reporting for both DGI-2 Recommendation 7 and DGI-3 Recommendation 4.
  - Detailed data on debt securities issuance in international markets by residents have been established.
  - South Africa is finalizing the time series with data from the first quarter of 2023 to be reported for both DGI-2 Recommendation 7 and DGI-3 Recommendation 4.
  - Dissemination of foreign issuance statistics to the BIS is expected by August 2024.
- Rec 5: Forward Looking Physical and Transition Risk Indicators.
  - The data gap is being addressed.
  - The South African Reserve Bank (SARB) initiatives include:
    - Expanding its common scenario stress testing framework covering systemically important financial institutions.
    - Development of climate risk indicators under the Prudential Authority Climate Task Team (PACTT).
  - Aim is to develop indicators that provide a forward-looking perspective for both physical and transition risks, although many indicators will be based on historical data and trends.
- Rec 6: Climate-Impacting Government Subsidies.
  - The data gap is being addressed.

*Source: third-phase-of-the-g20-data-gaps-initiative-second-progress-report - Annex 16 “Resources for adaptation and mitigation of the effects of climate change” of the Expenditure Budget of the Federation*

### Chapter 4 of the

### third-phase-of-the-g20-data-gaps-initiative-second-progress-report - Chapter 4

### South Africa — Climate and Distributional Statistics (Recommendations 7–14)
- Rec 7: Climate Change Mitigation and Adaptation Expenditures — The data gap is being addressed.
  - National mandate: National Department of Forestry, Fisheries, and the Environment (DFFE).
  - Developing a climate change finance tracking framework to institutionalize continuous, consistent, and holistic data collection and reporting; coordinated through the Climate Change Information System (NCCIS) by DFFE.
  - Two primary national publications:
    - South African Climate Landscape Study — coordinated by the Presidential Climate Commission (PCC), updated every three years.
    - South African Biennial Update Report (BUR) — institutionalized through NCCIS; provides updates on domestic and international climate finance flows.
  - Additional publications and studies: local government climate finance flows study published November 2022; World Bank “South Africa Country Climate and Development Report” published November 2022.
  - Transitioning UNFCCC BUR reporting into the new Biennial Transparency Report (BTR) under the Paris Agreement.
  - Piloting a climate budget tagging (CBT) framework across three tiers of government: national, provincial, municipalities.
  - National Treasury completed the Green Finance Taxonomy as a classification tool.
  - Emphasis: climate public expenditure and budget analyses, budget coding/tracking/reporting, capacity building to coordinate resource mobilization and track expenditures at national and county levels.

- Rec 8: Distribution of Household Income, Consumption and Savings — The data gap is being addressed.
  - Status: planning and data collection stage.
  - Latest Household Income and Expenditure survey IES 2022/23 (Statistics South Africa) will be published in December 2024.
  - Frequency: survey conducted every five years; South Africa aims to consider dissemination every three years if possible, but at least every five years.
  - Methodology: will follow OECD guidance manual and template for household distributional accounts; representatives attend expert group meetings.

- Rec 9: Distribution of Household Wealth — The data gap is being addressed.
  - Challenge: national accounts macro data do not split private households, institutional households, and non-profit institutions serving households; discrepancies between macro and micro wealth components found in Distribution Household Wealth stocktaking exercise.
  - Potential source: non-profit organisations’ (NPOs) database managed by Department of Social Development (DSD).
  - Status: South African Reserve Bank (SARB) and DSD are at an advanced stage of finalizing an MoU for access to NPOs database.

- Rec 10: Fintech Credit — The data gap is not an immediate priority.
  - Resource constraints mean longer timeline.
  - Limited availability of Fintech-related data; January 2024 pilot data call yielded only qualitative data related to a 2023 market study.
  - No credible fintech data at Financial Intelligence Centre (FIC) or Financial Sector Conduct Authority (FSCA).
  - SARB is considering undertaking a study to determine developments in the Fintech market.

- Rec 11: Digital Money — The data gap is being addressed.
  - Limited Fintech-related data availability.
  - FSCA regulations effective October 2022 aimed at consumer protection, including Declaration of a Crypto Asset as a Financial Product under the FAIS Act, 2002.
  - SARB experiments with digital payment features (project Khoka 2) and participated in CBDC cross-border experiment (project Dunbar); SARB has no plans to issue a CBDC at the moment.
  - Economic Statistics Department collects some digital money data as part of the IMF’s FAS.
  - Non-bank entities must partner with a bank to provide e-money under current legislation; legislative amendments to allow issuance without banking partnerships are work in progress (dates yet to be confirmed).
  - SARB considering a market study on Fintech developments.

- Rec 12: Fintech-enabled Financial Inclusion — The data gap is being addressed; collection challenges remain.
  - Economic Statistics Department collects some data on digital money as part of IMF’s FAS.
  - Non-bank e-money providers must partner with banks; mobile money and wallet services predominantly linked to banking services.
  - Measurement challenges: balances from prepaid cards can be saved in e-wallets, complicating distinction between e-money and internet/mobile banking.

- Rec 13: Access to Private and Administrative Data — Improved in 2023 vs 2022.
  - SARB entered into several MoUs with key stakeholders, including Strategy, SARS, and Department of Social Development.
  - Renewal of Deeds data concluded early 2024.
  - SARB redesigned survey forms to source more granular data from Banking and Non-Banking entities; redesigned surveys for Balance of Payments transactions.

- Rec 14: Data Sharing — Improved in 2023 vs 2022.
  - Data sharing protocol with Statistics South Africa signed.
  - MoU with National Treasury and Statistics South Africa signed.
  - Implemented Programme Sky within SARB to facilitate data sharing among SARB departments.

### Turkey — Climate, Green Finance, and Data Sharing (Recommendations 1–14)
- Rec 1: GHG Emission Accounts and National Carbon Footprints — The data gap is being addressed.
  - GHG emission accounts published by Eurostat; EU carbon footprints methodology under evaluation.

- Rec 2: Energy Accounts — The data gap is closed.
  - Energy accounts published by Eurostat.

- Rec 3: Carbon Footprints of FDI — Data gap not an immediate priority.

- Rec 4: Climate Finance (Green Debt and Equity Securities Financing) — Data gap is being addressed.
  - Publication includes green debt but not green listed shares.
  - Developments:
    - 2022 guidelines on Green Debt Instruments, Sustainable Debt Instruments, Green Lease Certificates and Sustainable Lease Certificates published by Capital Markets Board of Türkiye (CMB).
    - Green debt issuers began disclosing impact reports and Framework Documents on Public Disclosure Platform (KAP).
    - Revision to Corporate Governance Communiqué introduced obligation to disclose annual “Reports on Sustainability Principles Compliance Framework” on KAP.
    - Since 2023, KAP templates differentiated green issuances; system able to record green issuances; KAP integrated with Centralized Depository System for debt issuances.
  - MKK prepared database and data structure to publish aggregated reports/statistics on green issuances using KAP and Centralized Depository System data.
  - New reports expected to be ready by the end of 2024 on GEFAS.

- Rec 5: Forward Looking Physical and Transition Risk Indicators — The data gap is being addressed.
  - Relevant parties exploring needed data; World Bank technical assistance project expected to deliver important data needs for physical and transition risk stress testing practices for Türkiye.

- Rec 6: Climate-Impacting Government Subsidies — The data gap is being addressed.
  - Several subsidy programs described:
    - Green Deal Compliance Project Support (Official Gazette dated 23/02/2024, numbered 32469; entered into force on 26/06/2024) — Ministry of Trade will cover 50 percent of consultancy service expenses for up to five years, with a maximum total support of 10 million liras.
    - Green Industry Project (with World Bank support) available through ‘Green Industry Incentive Programme’ launched by KOSGEB — Programme expected to reach 250 million USD dollar in total, R&D component for private sector projects around 175 million USD dollars.
    - Ministry of Industry and Technology’s Green Transformation Support Programme — to support greener practices under investment incentive system in line with Decision No. 3305 on State Aids in Investments.

- Rec 7: Climate Change Mitigation and Adaptation Expenditures — The data gap is being addressed.
  - Central government budget aligned with Twelfth National Development Plan; performance-based program budgeting includes sub-programmes such as "Sustainable Environment and Climate Change" and “Forests and Nature Protection and Sustainable Management Program.”

- Rec 8 & Rec 9: Distribution of Household Income, Consumption and Savings and Distribution of Household Wealth — The data gaps are being addressed.
  - After ESA 2010 Benchmark (Main) revision finalized in September 2025, household (HH) scope will be redefined.
  - Plan to calculate and publish HH (S.14) sector separately from NPISH (S.15) under Institutional Sector Accounts.
  - HDA studies will be accelerated after main revision studies.

- Rec 10: Fintech Credit — Data gap is not material.
  - Turkish legislation prohibits payment and electronic money institutions from providing loans or giving impression of providing loans; Recommendation 10 not applicable.

- Rec 11: Digital Money — The data gap is being addressed.
  - Need to further develop legal framework for data collection on relevant financial data.

- Rec 12: Fintech-enabled Financial Inclusion — The data gap is being addressed.
  - Joint regulatory effort to collect and publish related statistics.
  - Existing statistics provided by Banking Association do not cover whole banking sector; process initiated to produce more inclusive and compatible statistics, with stakeholder discussions and planned pilot data collection from banks.

- Rec 13 & Rec 14: Access to Private Data and Data Sharing — Improved over past year; room for further improvement.
  - Positive examples: “e-VAM” Project (TurkSTAT); Geographical Information Request Platform (Ministry of Environment, Urbanization and Climate Change).
  - Data sharing agreement example between Central Bank of the Republic of Türkiye and Social Security Institution.
  - TurkStat restarted providing access for public institutions and organisations with public institution status via “Protocol for providing Web Services” for Dissemination Database Web Service (MEDAS) and MEDAS web interface.

### United Kingdom — Climate and Financial Data (Recommendations 1–14)
- Rec 1: GHG Emission Accounts and National Carbon Footprints — The data gap is closed.
  - Air emission accounts published by Office for National Statistics and Carbon footprints statistics published by Department for Environment, Food and Rural Affairs meet high quality standards and are accredited official statistics by the Office for Statistics Regulation.

- Rec 2: Energy Accounts — The data gap is closed.
  - Physical energy flow accounts (PEFA) produced by ONS meet the required two-year lag suggested by DGI-3 and are assessed to be an accredited official statistic.

- Rec 3: Carbon Footprints of FDI — Data gap not an immediate priority.
  - Elements met by ONS; others need further work subject to available resources; no timeline set.

- Rec 4: Climate Finance (Green Debt and Equity Securities Financing) — The data gap is being addressed.
  - Bank of England (BOE) working on issuance information to collect green finance for debt securities.
  - Proposed template changes to include sustainability and sustainability-linked instruments would affect requirements; BOE introduced short-to-medium-term aggregate collection solution; breakdown collection remains a longer-term aspiration.
  - For holdings, greater dependency on G20 collaboration and commercial data sources.
  - ONS considering inclusion in Financial Services Survey (subject to testing with businesses).
  - Issuance of green listed equity currently collected using LSEG’s ‘Green Economy Mark’.

- Rec 5: Forward Looking Physical and Transition Risk Indicators — The data gap is being addressed.
  - UK has statutory quinquennial reporting requirements on climate adaptation risks for government bodies and key infrastructure.
  - As part of the 4th climate risk assessment, the UK is developing a set of physical risk indicators.

- Rec 6: Climate-Impacting Government Subsidies — Not an immediate priority.
  - UK has no current plan to address this recommendation; continues to monitor developing requirements and related revisions to 2025 SNA.

- Rec 7: Climate Change Mitigation and Adaptation Expenditures — Not an immediate priority.

- Rec 8: Distribution of Household Income, Consumption and Savings — Not an immediate priority.
  - No committed timeline; hopes to meet the second-best target in conversations with the EG DNA, contingent on internal review of methods and sources.

- Rec 9: Distribution of Household Wealth — Not an immediate priority.
  - No data available to fully complete micro template; engagement with EG DHW continues but no delivery timetable.

- Rec 10: Fintech Credit — Not an immediate priority.
  - No current data to fill the template; part of Financial Stability Board global monitoring on Non-Bank Financial Intermediation.
  - New Financial Services Survey (S125 to S127) includes a question on fintech loans; integration into national accounts planned before 2026/27.

- Rec 11: Digital Money — Not an immediate priority.
  - Limited usage of digital money in UK economy.
  - Bank of England considering CBDC issuance; no decision yet; statistical measurement practicalities not yet commenced.
  - Ad hoc work on measurement of different crypto assets ongoing but not high priority.

- Rec 12: Fintech-enabled Financial Inclusion — Not an immediate priority.

- Rec 13 & Rec 14: Access to Private and Administrative Data and Data Sharing — No change between 2022 and 2023.
  - ONS continues efforts to bring in private and administrative data; notable successes but no policy or legislative changes that affect overall level of access.

### United States — Environmental Accounts and Climate-related Financial Risk (Recommendations 1–8)
- Rec 1: GHG Emission Accounts and National Carbon Footprints — The data gap is being addressed.
  - April 2023: BEA published a proof-of-concept air emissions account covering 2012-2017.
  - Part of the U.S.’s 2023 National Strategy to Develop Statistics for Environmental-Economic Decisions, which outlines a plan for development and production of these accounts by 2032 (with intermediate pilot/prototype accounts earlier) conditional on permanent funding.
  - BEA not currently pursuing consumption-based carbon footprints.

- Rec 2: Energy Accounts — The data gap is being addressed.
  - SEEA-based Energy Accounts included in the 2023 National Strategy; conference paper on pilot account to be presented at August IARIW General Conference.
  - Plan for development and production by 2032 conditional on permanent funding.

- Rec 3: Carbon Footprints of FDI — Data gap not an immediate priority.
  - BEA not pursuing production of carbon emissions of MNEs.
  - U.S. has fully closed the gap for most of the target (well exceeding the second-best target) except for the carbon emissions part.

- Rec 4: Climate Finance (Green Debt and Equity Securities Financing) — The data gap is being addressed.
  - U.S. ability limited to cross-border holdings data; no access to issuance data or domestic holdings data.

- Rec 5: Forward Looking Physical and Transition Risk Indicators — The data gap is being addressed.
  - Financial Stability Oversight Council (FSOC) has Climate-Related Financial Risk Committee (CFRC).
  - CFRC developing an initial set of climate-related financial risk indicators for physical and transition risk.
  - CFRC working to identify priority climate-related data sets for FSOC members, identify data gaps, and improve data sharing across U.S. regulatory agencies via an interagency platform.

- Rec 6: Climate-Impacting Government Subsidies — Not an immediate priority.
  - U.S. concerned that concepts and guidelines for this data gap are not sufficiently outlined.
  - Determining which subsidies are climate-sustaining vs. climate-harming is out of scope for statistical agencies; more work required to set scope for purpose, impact, and secondary impact.

- Rec 7: Climate Change Mitigation and Adaptation Expenditures — Not an immediate priority.
  - U.S. remains concerned that concepts and guidelines for this data gap have not been sufficiently outlined.

- Rec 8: Distribution of Household Income, Consumption and Savings — The data gap is closed.
  - BEA added to existing distribution of personal income and met the target in July 2024 with a new joint distribution of income and consumption, and subsequently savings, presently available for 2004-

*Source: third-phase-of-the-g20-data-gaps-initiative-second-progress-report - Chapter 4*

### 2022. Estimates are provided at a current lag of 11 months from the reference period.

### third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 2022. Estimates are provided at a current lag of 11 months from the reference period.

### United States — Key findings and status by recommendation
- 2022. Estimates are provided at a current lag of 11 months from the reference period.
- Rec 9: Distribution of Household Wealth.
  - The data gap is closed.
  - The U.S. produces data that provides more granularity than is requested by the target at the top of the wealth and income distributions, but less granularity at the bottom.
- Rec 10: Fintech Credit.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
  - In 2023, the U.S. actively engaged with the FSB’s workstream on fintech credit (Task Team 10) and hoped to report data on a best-effort basis as part of the pilot exercise conducted by the FSB.
  - Source data limitations restricted U.S. ability to contribute data for the pilot exercise.
  - The U.S. does not anticipate any resolution of these limitations in the near term, especially considering resource constraints and the limited materiality of the topic.
- Rec 11: Digital Money.
  - The data gap is being addressed.
  - The U.S. is participating in the focus group for this recommendation.
  - Ability to meet the target will depend critically on the specifics of the common statistical reporting framework, currently under discussion.
  - Given the developing regulatory environment and associated low feasibility of initiating new data collections in the near term, it is likely that the U.S. will not be able to prioritize closing this gap with the available resources, particularly if information on the sector and/or country of holder is required.
- Rec 12: Fintech-enabled Financial Inclusion.
  - The data gap is being addressed.
  - Government agencies have limited data on the supply-side of fintech-enabled financial inclusion, and they have more survey-based data on the demand-side.
  - Further consultation with national stakeholders is needed to determine relevant indictors for policy making.
- Rec 13: Access to private and administration data.
  - The level of access to private and administrative data and data sharing improved in 2023 compared to 2022.
  - In 2023, the U.S. Interagency Council on Statistical Policy issued “The Use of Private Datasets by Federal Statistical Programs: Extent, Challenges, and Lessons Learned.” The report overviews results of two surveys—one on agencies’ access to and use of private-sector data and one on specific case studies. While the survey period was 2021, the case studies provide examples of recent and ongoing work to expand access to private datasets.
- Rec 14: Data Sharing.
  - There has been no change in the level of access to private and administrative data within the national statistical system between 2022 to 2023.

### European Union — Key findings and status by recommendation
- Rec 1: GHG Emission Accounts and National Carbon Footprints.
  - The data gap is closed.
  - The European Union has mandatory air emissions accounts and produces carbon footprints.
- Rec 2: Energy Accounts.
  - The data gap is closed.
  - Energy accounts form part of EU environmental-economic accounts.
- Rec 3: Carbon Footprints of FDI.
  - The data gap is closed.
  - The EU disseminates annual FDI positions and flows data consistent with BPM.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing).
  - The data gap is being addressed.
  - The ECB already compiles and publishes several of the aggregates on green debt securities, sustainability debt securities and sustainability-linked debt securities that are part of its Recommendation 4 self-commitments for climate finance debt securities.
  - The remaining parts of the self-commitments for climate finance debt securities will be compiled and published by end-2025.
  - The ECB has started exploring possible data sources for compiling statistics on green listed shares.
- Rec 5: Forward Looking Physical and Transition Risk Indicators.
  - The data gap is being addressed.
  - The ESCB compiles and publishes forward-looking physical risk indicators on coastal and river flooding, wildfires, water stress, standardized precipitation index and consecutive dry days.
  - The ESCB has started exploring possible data sources and methodologies for compiling forward-looking transition risk indicators.
  - Forward-looking physical risk statistical indicators are published on the ECB website.
  - Forward-looking transition risk indicators are envisioned for future work by the ESCB.
  - Current focus of the transition and physical risk statistical indicators is on the risks incorporated in the loans and securities portfolios of euro area financial institutions towards non-financial corporations.
  - Detailed information regarding the underlying methodology for the indicators can be found in the ECB Statistical Paper.
- Rec 6: Climate-Impacting Government Subsidies.
  - The data gap is being addressed.
  - Environmental subsidies statistics are collected at EU level, and information will be enhanced following recently adopted legislation.
- Rec 7: Climate Change Mitigation and Adaptation Expenditures.
  - The data gap is being addressed.
  - Work is ongoing in the EU on developing better information on climate adaptation and mitigation.
- Rec 8: Distribution of Household Income, Consumption and Savings.
  - The data gap is closed.
  - Annual household distributional accounts (income, consumption, saving) are available for all EU Member States, either from national estimates or from centralized estimates.
- Rec 9: Distribution of Household Wealth.
  - The data gap is closed.
  - The ECB, in close cooperation with the Euro system, started publishing experimental distributional wealth accounts in January 2024.
  - These results cover data for the euro area and 20 EU countries, are updated every quarter and its methodology is being further enhanced.
  - A detailed article introducing the DWA is published in the ECB’s Economic Bulletin in August 2024.
  - Several items are still under discussion for the final target at the end of 2026 and work is ongoing with the EG DHW and the ECB’s EG DFA to assess whether these can be included in the 2026 transmissions.
- Rec 10: Fintech Credit.
  - The data gap is being addressed.
  - The ECB is exploring, among others, some commercial data sources to progress towards closing the data gap.
- Rec 11: Digital Money.
  - The data gap is being addressed.
  - Regulation EU 2023/1114 of 31 May 2023 on markets in crypto-assets (MICAR) is of great importance in the context of the future crypto-asset monitoring framework, data collection and development of indicators.
  - MICAR related data flows are expected in 2025.
  - The ECB and the central banks in the Euro system are exploring various data sources to enhance their monitoring capacities and progress towards closing the data gap.
- Rec 12: Fintech-enabled Financial Inclusion.
  - The data gap is being addressed.
  - Existing indicators related to Fintech exist, but additional investigation is required to determine the feasibility of addressing the data gap regarding the desired breakdowns.
- Rec 13 and Rec 14: Access to Private Data and Data Sharing.
  - At EU level the legal rights for statistical authorities to access private and administratively held data will be improved by the revision of EU Regulation 223/2009, which is expected to enter into force later in 2024.

### Non-G20 FSB Member Economies — Summary by economy

- General note:
  - Non-G20 FSB member economies participate in the DGI-3 on a voluntary basis and therefore only implement the recommendations that are requested by their policymakers.

#### Hong Kong
- Rec 1: GHG Emission Accounts and National Carbon Footprints.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
  - The Environment and Ecology Bureau of Hong Kong publishes annual GHG emissions by sector as well as GHG emission and carbon intensities.
- Rec 2: Energy Accounts.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
  - Hong Kong has no coal mine and oil refinery industry.
  - Electrical and Mechanical Services Department of Hong Kong publishes annual energy end-use data and consumption indicators.
- Rec 3: Carbon Footprints of FDI.
  - The data gap being addressed.
  - Annual FDI positions and flows by selected major economy consistent with BD4 and BPM6 have been available since 1998.
  - Annual FDI positions and flows by major economic activity of Hong Kong enterprise groups have been available since 2004.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing).
  - The data gap is being addressed.
  - The Hong Kong Monetary Authority (HKMA) will report green debt statistics covering the data items set out in our self-commitments under DGI-3 Recommendation 4 and in accordance with the prescribed timeline of the WGSD/BIS.
- Rec 5: Forward Looking Physical and Transition Risk Indicators.
  - The data gap is being addressed.
  - The Green and Sustainable Finance Cross-Agency Steering Group (CASG) in Hong Kong offers a one-stop green and sustainable finance information hub for financial institutions, corporates, and the general public.
  - One key feature is the Green and Sustainable Finance Data Portal, which centralizes sustainability related data sources with user-friendly browsing and search functions, including search by use case (physical risk assessment, stress test, risk mitigation, etc.).
- Rec 6: Climate-Impacting Government Subsidies.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
- Rec 7: Climate Change Mitigation and Adaptation Expenditures.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
- Rec 8: Distribution of Household Income, Consumption and Savings.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
  - Distribution of household income and consumption based on household surveys are available.
  - National accounts household income total is not available and hence benchmarking with national accounts total cannot be carried out.
  - Coverage of household consumption from household survey is very different from that of national accounts total and alignment cannot be made in the near future considering factors including resources required and respondent burden.
- Rec 9: Distribution of Household Wealth.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
  - National accounts balance sheet is not available in Hong Kong.
  - Wealth of households is sensitive and households are not willing to disclose the information; even if reported, reliability is limited as households generally don’t have the correct idea about valuation of their assets.
- Rec 10: Fintech Credit.
  - The data gap is being addressed.
  - Some fintech credit data has been provided to FSB as part of Hong Kong’s contribution to FSB’s Global Monitoring Report on Non-Bank Financial Intermediation 2024.
- Rec 11: Digital Money.
  - The data gap is being addressed.
  - The HKMA is targeting a regulatory regime for stablecoins in 2024.
  - The licensing of stablecoin issuers should take place later in 2024/2025.
- Rec 12: Fintech-enabled Financial Inclusion.
  - The data gap is not material for the economy.
  - The HKMA has been collecting statistics from banks on mobile and internet banking transactions via an informal survey for internal reference and ongoing monitoring of market developments.
  - The statistics collected are not being disseminated to the public or international organisations that collect these data at the moment.
  - The HKMA will consider formalising the survey and disseminating the relevant statistics.
  - The HKMA publishes statistics of Stored Value Facilities ("SVF") schemes issued by SVF licensees, including the value and number of SVF transactions, on a quarterly basis.
- Rec 13 and Rec 14:
  - The Census and Statistics Department of Hong Kong, China has sought support from two more government departments to share their administrative data for statistical purpose and analysis starting from 2023.

#### The Netherlands
- Rec 1: GHG Emission Accounts and National Carbon Footprints.
  - The data gap is closed. Data are being published.
- Rec 2: Energy Accounts.
  - The data gap is closed. Data are being published.
- Rec 3: Carbon Footprints of FDI.
  - The data gap is closed (for the second-best target).
  - FDI positions are available by counterpart country - both inward and outward.
  - De Nederlandsche Bank (DNB) also publishes direct investment positions by industry (inward and outward).
  - Transactions in direct investment and direct investment transactions by counterpart country are also published by De Nederlandsche Bank.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing).
  - The data gap is being addressed.
  - Work on this recommendation for the Netherlands is mostly coordinated within the ESCB context.
- Rec 5: Forward Looking Physical and Transition Risk Indicators.
  - The data gap is being addressed.
  - On April 18, 2024, the second release of climate-related statistics from the Expert Group Climate Change Statistics took place (a collaboration between the ECB and national central banks).
  - The third release is expected in the first quarter of 2025.
  - The physical risk indicators in these statistics are forward-looking, and the carbon risk indicators will be added in the future.
- Rec 6: Climate-Impacting Government Subsidies.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
  - Work on this recommendation is still in its early stages; a commitment would currently be too premature due to uncertainties.
- Rec 7: Climate Change Mitigation and Adaptation Expenditures.
  - The data gap is being addressed.
  - Initiatives underway include mandatory collection of data on climate investments for Eurostat starting next year.
  - This effort is complemented by the Green Deal project, which Statistics Netherlands will initiate and carry out over the next two years.
- Rec 8: Distribution of Household Income, Consumption and Savings.
  - The data gap is being addressed.
  - Current available breakdown focuses on quintiles; the primary target is deciles (by 2026).
  - Timeliness is work-in–progress because the current breakdowns become available approximately at t+22.
- Rec 9: Distribution of Household Wealth.
  - The data gap is being addressed.
  - Current estimates of wealth distribution are available at the quintiles levels; the primary target requests estimates at the decile level (by 2026).
  - Timeliness is work-in–progress because the current breakdowns become available approximately at t+22.
- Rec 10: Fintech Credit.
  - The data gap is being addressed.
  - Several initiatives have been launched to collect the necessary data as part of the regular reporting sequences.
  - The first publication is expected in the first half of 2025.
  - Some data have been sent to the FSB for its 2024 global monitoring exercise on NBFI.
- Rec 11: Digital Money.
  - The data gap is being addressed.
  - There is some uncertainty because the data templates have not yet been clarified.
  - The Netherlands is actively participating in the workflow, and the tasks to be executed are in alignment with De Nederlandsche Bank’s (DNB) multi-year statistical plan.
- Rec 12: Fintech-enabled Financial Inclusion.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
- Rec 13 and Rec 14: Access to private and administration data and Data Sharing.
  - The level of access to private and administrative data and data sharing has not changed in 2023 compared to 2022.

#### Singapore
- Rec 1: GHG Emission Accounts and National Carbon Footprints.
  - The data gap is not material for the economy.
  - Supply and use tables for the available periods between 2010 to (current year - 4) are published under the heading ‘Supply, Use and Input-Output Tables’.
  - In accordance with the UNFCCC and IPCC Guidelines on continual improvement of national GHG inventories, Singapore publishes data on GHG emissions in the latest Biennial Update Report submitted to the UNFCCC (for data up to 2018) and SingStat Table builder (for data up to 2021).
- Rec 2: Energy Accounts.
  - The data gap is being addressed.
- Rec 3: Carbon Footprints of FDI.
  - The data gap is being addressed.
  - Data on Foreign Direct Investment positions and flows are published on SingStat website.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing).
  - The data gap is being addressed.
- Rec 5: Forward Looking Physical and Transition Risk Indicators.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
- Rec 6: Climate-Impacting Government Subsidies.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
- Rec 7: Climate Change Mitigation and Adaptation Expenditures.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
- Rec 8: Distribution of Household Income, Consumption and Savings.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
- Rec 9: Distribution of Household Wealth.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
- After consultation with relevant stakeholders, Singapore will not address DGI-3 recommendations 6–9.
- Rec 10: Fintech Credit.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
- Rec 11: Digital Money.
  - The data gap is not an immediate priority area for national authorities, given the available resources.
- Rec 12: Fintech-enabled Financial Inclusion.
  - The data gap is not material for the economy.
- Rec 13 and Rec 14.
  - The level of access to private data and the level of data sharing improved since the (text cut in source).

*third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 2022. Estimates are provided at a current lag of 11 months from the reference period.*

### 2023. The Trusted Centre for Individual and Business Data at the Singapore Department of Statistics

### third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 2023. The Trusted Centre for Individual and Business Data at the Singapore Department of Statistics

### Singapore — DOS TC overview
- DOS TC shares government administrative data within the Singapore Government under the Public Sector (Governance) Act 2018 (PSGA).
- Objective: unlock value and empower data-driven insights to support evidence-based policy analysis & planning and seamless service delivery to benefit residents and businesses in Singapore.
- 2023 developments:
  - DOS TC shared more data with Singapore Government agencies and made available more government administrative datasets.
- PSGA specifics:
  - Provides authority for data sharing between public sector agencies while introducing penalties for unauthorized disclosure, improper use of information and unauthorized re-identification of anonymized information.

### Spain — status by recommendation
- Rec 1: GHG Emission Accounts and National Carbon Footprints
  - Status: The data gap is being addressed.
  - Spain (National Statistical Offices) is publishing Greenhouse Gas Emissions Accounts data from 2011 (first reference year).
  - Information regarding 2022 and previous years was published last November 2023.
  - Annual SUTs are available from 1995 forward.

- Rec 2: Energy Accounts
  - Status: The data gap is closed.
  - Physical energy flow accounts are published.

- Rec 3: Carbon Footprints of FDI
  - Status: The data gap is being addressed.
  - Banco de España is working to address this data gap, but no information has been published as yet.
  - Targets already met by Spain:
    - (1) developing and disseminating annual FDI positions and flows data by economy consistent with BD4 and BPM6 ( and with their updated versions) and by industry consistent with BD4;
    - (2) data on the activities of foreign-controlled firms in the reporting economy and on the overseas activities of MNEs; and
    - (3) imports and exports by enterprise characteristics differentiating exports and imports of goods (movement of goods basis) and services (change of ownership basis) by ownership.
  - Estimates of carbon emissions of MNEs by ownership (as long as a database for the carbon emissions is available) is considered achievable for Spain.
  - Timeline feasibility:
    - Proposed timeline (fourth quarter 2024) would not, in principle, be feasible for Spain (Banco de España).
    - A longer deadline (fourth quarter 2026) would be needed to meet the target.

- Rec 4: Climate Finance (Green Debt and Equity Securities Financing)
  - Status: The data gap is being addressed.
  - Spain (Banco de España) has not officially published data or indicators on its own yet.
  - ECB publishes experimental indicators on sustainable finance for the Euro Area with a breakdown by country, including Spain.

- Rec 5: Forward Looking Physical and Transition Risk Indicators
  - Status: The data gap is being addressed.
  - The ECB publishes experimental or analytical climate change-related indicators for 2023 onwards.
  - Banco de España aims at the second-best target while increasing scope (e.g., economic sector or geographic areas).
  - Some physical risks: certain data gaps could be deemed closed for exposures to non-financial institutions geographically limited to the EU/euro area.
  - No forward-looking transition risk indicators have been developed.
  - Eurosystem aims at compiling forward-looking carbon emission indicators based on historic microdata; a stocktaking on time horizon and methodology is being conducted.

- Rec 6: Climate-Impacting Government Subsidies
  - Status: The data gap is being addressed.
  - Data has not been published at national level.
  - Data has been sent to Eurostat in the framework of a pilot project.
  - Eurostat metadata on environmental subsidies and similar transfer is available.
  - More in-depth work on COFOG data for other categories (other than category 5) has to be developed.
  - Some environmental subsidies are included in budgetary programs classified by economic nature or as public services (subsidies within general government).

- Rec 7: Climate Change Mitigation and Adaptation Expenditures
  - Status: The data gap is being addressed.
  - More in-depth work on COFOG data for other categories (other than category 5) has to be developed.
  - Some environmental subsidies are included in budgetary programs classified according to economic nature or as public services.

- Rec 8: Distribution of Household Income, Consumption and Savings
  - Status: The data gap is not an immediate priority area for the national authorities, given the available resources.
  - No timeline has been set for this recommendation.
  - Spain aims to publish as soon as possible and is learning methodologies from the OECD working group.

- Rec 9: Distribution of Household Wealth
  - Status: The data gap is closed.
  - Spanish DWAs are compiled in accordance with the method developed by the ECB's Expert Group on Distributional Financial Accounts.
  - Spain (Banco de España) has not officially published data or indicators on its own.
  - Banco de España provides on its website a link to the ECB Data Portal where quarterly household Distributional Wealth Accounts for the Euro area are published with a five-month lag.
  - DWA details:
    - Include data for the Euro area as a whole and all Euro area countries, including Spain.
    - Households broken down into the top five deciles of net wealth and the bottom 50 percent, as well as by employment and housing status.
  - Targets:
    - Spain meets the target of publishing the household distributional accounts for the fourth quarter of both 2024 and 2026 taking into account the data sources and given the definition of wealth currently used.
    - Several possible additional wealth items are under discussion for the final target at the end of 2026; work ongoing with the EG DHW and the ECB’s EG DFA to assess inclusion in the 2026 transmissions.

- Rec 10: Fintech Credit
  - Status: The data gap is being addressed.
  - Banco de España has developed experimental microdata on Spanish non-bank Fintech entities using individual financial statements from Fintech firms.
  - This micro data is available for research projects through the data laboratory at the Banco de España.
  - Contacts with CNMV (official register of crowdfunding platforms) produced aggregated information on lending channeled through Fintech lending auxiliaries.
  - Methodology for compiling Fintech Credit data developed combining these two sources and tested in the Fintech Credit Pilot exercise of recommendation 10.
  - Fintech lending data were submitted to the FSB during August as part of Spain’s contribution to annual FSB Global Monitoring exercise on NBFI 2024.
  - Limitations:
    - Sources are administrative data not specifically developed for statistical use; they lack certain information useful for this context.
    - “Interconnectedness” data for Fintech lending intermediaries will be very limited.
    - “Invoice lending platforms” information will not be available (out of scope of regulation applying to crowdfunding platforms).
    - Improvements expected via development of new data sources or use of survey data.

- Rec 11: Digital Money
  - Status: The data gap is being addressed.
  - Data on cryptocurrency ownership and value collected via:
    - (1) Survey of Financial Competences (2021);
    - (2) Spanish Survey of Household Finances (2022);
    - (3) annual survey relating to the activity of non-financial corporations (Central Balance Sheet Data Office, 2022).
  - Future editions expected to incorporate more cryptocurrency-related questions and include new inquiries related to payments and CBDCs.
  - Banco de España publications and initiatives:
    - Special within the Financial Stability Report Spring 2022 about cryptoassets providing comprehensive insights into Spain’s crypto market trends and transaction volumes.
    - Census of non-banking Fintech entities compiled through industry associations — basis of the Fintech Observatory (experimental project created in 2020 with data from 2018 onwards).

- Rec 12: Fintech-enabled Financial Inclusion
  - Status: The data gap is being addressed.
  - Spain participated in questionnaires to report Fintech services and in the pilot of the FAS survey.
  - Final indicators to be established depending on pilot results.

- Rec 13: Access to private and administration data
  - Status: The level of access within national statistical system has not changed from 2022 to 2023.

- Rec 14: Data Sharing
  - Status: The level of data sharing agreements within national statistical system has improved over the last year.
  - Examples of micro and private data sharing cases:
    1. Sharing of Statistical Business Register (SBR)
       - Agencies: INE collaborates with Banco de España.
       - INE provides Banco de España with the SBR data; Banco de España cross-references and feedback is exchanged.
    2. Multinational Enterprises (MNEs) Population Framework
       - Agencies: INE and Banco de España.
       - INE sends initial list of units; Banco de España contrasts and enriches with its databases; feedback exchanged; final list agreed.
    3. MNEs Non-Financial Transactions
       - Agencies: INE, Banco de España, Tax Agency Customs department, Transport Ministry.
       - Exchange of microdata of MNEs operations to ensure consistent recording across statistical domains.
    4. Card Payments Data Sharing
       - Agencies: Banco de España and INE.
       - Information collected based on ECB Regulation on Payments statistics 2020/2011.
       - Banco de España analyzing possibilities of sharing data with INE on external payments settled through bank cards issued by payment service providers resident in Spain.
       - Objective: improve quality of BOP and NA statistics and basic Tourists statistics; increase efficiency.
    5. BELab Data Laboratory Initiative by Banco de España
       - Agency: Banco de España.
       - BELab provides controlled access to high-quality microdata in a controlled environment; access on-site or remotely depending on sensitivity.
       - From external statistics:
         - (i) controlled access to Portfolio Investment microdata (ECI): a) portfolio investment assets (Spanish residents’ holdings of marketable securities issued by non-residents) and b) PI liabilities (non-residents’ holdings of marketable securities issued by residents in Spain).
         - (ii) access to microdata of direct investment both ways.
    6. ES_DATALAB
       - Agencies: INE, Banco de España, Tax Agency, Social Security, Public Service of Employment.
       - Data laboratory granting researchers access to indirectly identified microdata in secure centers; researchers can merge information for research projects guaranteed from a scientific institution.

### Switzerland — status by recommendation
- Rec 1: GHG Emission Accounts and National Carbon Footprints
  - Status: The data gap is being addressed.
  - Air emission accounts by economic activity are published by the Federal Statistics Office (FSO).

- Rec 2: Energy Accounts
  - Status: The data gap closed.
  - Physical Energy Flow Accounts (PEFA) are published by the FSO.

- Rec 3: Carbon Footprints of FDI
  - Status: The data gap is not an immediate priority area for national authorities, given the available resources.

- Rec 4: Climate Finance (Green Debt and Equity Securities Financing)
  - Status: The data gap is being addressed.
  - Swiss Stock Exchange (SIX) collects green bond data listed on its exchange and publishes it on its website.
  - The bond explorer tool allows users to filter all domestic green bonds; list continuously updated.
  - Green confederation bond and bonds issued at subnational level (e.g., cantons) are included.
  - To be labeled green bonds must be included in the Green Bond Database of the Climate Bonds Initiative and be aligned with the ICMA Green Bond Principles.

- Rec 5: Forward Looking Physical and Transition Risk Indicators
  - Status: The data gap is being addressed.
  - Data are disseminated by the Federal Office for the Environment.

- Rec 6: Climate-Impacting Government Subsidies
  - Status: The data gap is not an immediate priority area for national authorities, given the available resources.
  - Methodological questions from the stock taking exercise have not been addressed by the DGI team.
  - The exact statistical definition of a climate-impacting government subsidy remains unclear.
  - No new guidance known to be developed as of today.

- Rec 7: Climate Change Mitigation and Adaptation Expenditures
  - Status: The data gap is not an immediate priority area for national authorities, given the available resources.
  - Comments from Rec.6 apply here as well.

- Rec 8: Distribution of Household Income, Consumption and Savings
  - Status: The data gap is not an immediate priority area for national authorities, given the available resources.
  - Due to lack of sufficiently accurate survey instruments, annual data cannot be provided for the time being.

- Rec 9: Distribution of Household Wealth
  - Status: The data gap is being addressed.
  - No access to data that would allow this approach at this point, but methodologies are being developed in a household survey and dialogue with local governments on tax data possibilities.
  - Data on wealth distribution (based on tax data) are published by the Federal Tax Administration.
  - Data from the Income and Living Conditions Survey is also available.

- Rec 10: Fintech Credit
  - Status: The data gap is being addressed.
  - Fintech credit data is planned to be reported to the annual FSB global monitoring exercise on NBFI in 2025.

- Rec 11: Digital Money
  - Status: The data gap is being addressed.
  - Various initiatives underway to collect data on digital money; extent depends on future policy decisions by various institutions.
  - Collection of data on cryptocurrencies is in early stages and dependent on future regulations.
  - CBDC: pilots for wholesale CBDC (wCBDC) applications in progress; at present, no plans to implement CBDCs in Switzerland.
  - Further assessment requires consultation with national stakeholders and knowledge of future templates on data collection on CBDC and cryptocurrencies.

- Rec 12: Fintech-enabled Financial Inclusion
  - Status: The data gap is not an immediate priority area for national authorities, given the available resources.
  - Financial inclusion is not a significant issue in Switzerland; work in this area not considered a priority.
  - Data collection is being assessed and available data will be included in the annual FSB global monitoring exercise on NBFI 2024; further work to be assessed subsequently.

- Rec 13: Access to private and administration data
  - Status: The level of access within national statistical system has not changed from 2022 to 2023.

- Rec 14: Data Sharing
  - Status: The level of data sharing agreements within national statistical system have improved over the last year.
  - Amendment of the Central bank law: the Federal Statistical Office (FSO) is entitled to transmit micro data to the Swiss National Bank (SNB).
  - This step allows common analyses and has intensified collaboration between SNB and FSO.

### Annex 3 — DGI-3 Technical Workshops (2023–2027) — Recommendations 1–3 (selected workshops conducted August 2023–July 2024)
- Recommendation 1 — Workshop on Greenhouse Gas Emission Accounts
  - Organized by the IMF on January 31, 2024.
  - Objectives:
    - (1) formalize working arrangements between international agencies in the TT on Greenhouse Gas Emissions, Energy Accounts, and Carbon Footprints;
    - (2) present the status of work on GHG emission accounts and methodology to compile Air Emission Accounts;
    - (3) discuss the tool developed by the IMF to convert emission inventories as submitted to the UNFCCC or as estimated in the EU JRC’s EDGAR database into air emission accounts;
    - (4) learn from experiences of economies advanced in compilation of air emission accounts.
  - Agreement: templates developed under the UN Committee of Experts on Environmental-Economic Accounting will be used to report Air Emission Accounts; templates are consistent with the Air Emission Accounts template already used by Eurostat.
  - Materials listed:
    - Concept note for Greenhouse Gas Emission Accounts Concept note for Greenhouse Gas Emission Accounts and Carbon Footprint compilation.
    - Workshop materials.
    - Air Emission Accounts tool.

- Recommendation 2 — Workshop on Physical Energy Flow Accounts
  - Organized by the UNSD and the IMF on May 22, 2024.
  - Workshop focus:
    - (1) status of the recommendation;
    - (2) proposed targets, data availability and questionnaire for physical energy flow accounts;
    - (3) shared experiences on compilation processes including source data and methodologies, with focus on moving from energy statistics and balances to energy accounts;
    - (4) shared tools to facilitate compilation of physical energy flow accounts.
  - Agreement: templates developed under the UN Committee of Experts on Environmental-Economic Accounting will be used to report physical energy flow accounts; templates are consistent with the PEFA template already used by Eurostat.
  - Materials listed:
    - Concept note for PEFA.
    - Workshop materials.

- Recommendation 3 — Data Needs for Carbon Footprint of FDI
  - Organized by the IMF on March 21, 2024.
  - (Workshop reference listed; materials and objectives described in workshop agenda.)

*Source: third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 2023. The Trusted Centre for Individual and Business Data at the Singapore Department of Statistics*

### 2024. This workshop provided the Task Team members with an update of the methodological framework

### third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 2024. This workshop provided the Task Team members with an update of the methodological framework

### Workshop purpose and methodological framework
- 2024: Workshop provided Task Team members with an update of the methodological framework outlined in the concept note.
- Workshop topics:
  - Source data availability for G20 and participating economies.
  - Country experiences in compiling relevant statistics.
  - Concept Note for Carbon Footprint of FDI.
  - Workshop materials referenced.

### Recommendation 4 — Climate Finance (October 5–6, 2023, Cape Town)
- Organized in collaboration with the South African Reserve Bank.
- Agreed outputs and timelines:
  - Reporting templates and targets agreed by Task Team members.
  - Templates cover tables for issuances, holdings, and from-whom-to-whom statistics on:
    - green bonds,
    - sustainability bonds,
    - sustainability-linked bonds,
    - green listed shares.
  - Templates for green debt securities include “of which” breakdowns of the established DGI-2 Recommendation 7 breakdowns.
  - Reporting targets:
    - basic intermediate target for core data on green bonds by end-2025;
    - final target for other data by end of the DGI-3 at end-2027.
  - Reporting will rely on existing DGI-2 Recommendation 7 reporting infrastructure, including:
    - frequency, timeliness, use of the methodology of the Handbook on Securities Statistics (HSS),
    - use of the Global DSD for Sector Accounts (NA_SEC).
- Self-commitments and definitions:
  - Collect economies’ self-commitments on green debt securities by end-2023.
  - Self-commitments for green listed shares to be collected later in 2024 after the concept is further defined.
  - Workshop began discussing definitions for green securities and provided feedback on draft definitions developed by ISWGNA in the context of the SNA update process.
  - Discussed promoting harmonization by incorporating a new chapter on climate finance statistics in the next update of the HSS.
- Next steps:
  - Task Team members to meet at the Virtual Workshop on Recommendation 4 organized by WGSD in November 2024.
- Note: Recommendation 4 reporting templates include harmonized draft definitions for green debt securities, sustainability debt securities and sustainability-linked debt securities; Task Team is working on finalizing definitions to align with definitions proposed for the 2025 SNA.

### Recommendations 5–7 (workshops and key outcomes)
- Recommendation 5 — Forward-looking Physical and Transition Risk:
  - Workshop organized by the IMF on November 28, 2023.
  - Materials: Concept Note; Workshop materials.
- Recommendations 6 and 7 — Climate Change Related Subsidies and Expenditures (February 6 & 7, 2024):
  - Discussed concept notes, definitions, and methodology to estimate climate-related expenditures.
  - On Recommendation 6 (government measures/subsidies):
    - Broad agreement to include subsidies and other transfers as defined in statistical manuals.
    - Task Team generally agreed CEP and COFOG are the right classifications for climate-sustaining subsidies, but acknowledged these may lack detail for budget tagging—suggestion to provide more detail/breakdowns to CEP to allow budget tagging.
    - Importance of capturing secondary purpose expenditure; need clear definition and guidance on identification and measurement.
  - On Recommendation 7 (climate-related expenditures):
    - Need clarification on definitions of “climate change mitigation” and “climate change adaptation.”
    - Suggestion to include more details on capital formation (by industry) and on consumption (by institutional sectors) for policy analysis.
    - Information on own-account capital formation or capital transfers may be required by policymakers.
    - Guidance needed on how to record climate-related expenditures.
  - Materials: Government Climate-Impacting Subsidies; Concept note for climate-related expenditures; Workshop materials.

### Recommendations 8–9 — Distributional statistics (March–April 2024)
- Recommendation 8 — Distribution of Income, Consumption and Savings:
  - Organized by EG DNA during March 26–27, 2024; virtual follow-up in April 2024.
  - Activities:
    - Assessed size of gaps between micro and macro data for relevant items.
    - Explored methods to compile results.
    - Continued discussion on collection template and methodology based on initial Secretariat guidelines.
- Recommendation 9 — Distribution of Household Wealth (April 2024):
  - In-person workshop discussed scope and possible collection template, heard from countries on initiatives, and discussed compilation methodology.
  - Follow-up exercise: members provided micro and macro data for relevant items and assessed likely compilation methods.
  - Continued discussion on collection template and methodology based on first set of Secretariat guidelines.
  - Reporting templates referenced: OECD Handbook on the Compilation of Household Distributional Results on Income, Consumption and Saving in Line with National Accounts Totals.

### Recommendation 10 — Fintech Credit (April 17, 2024)
- Virtual workshop organized by the FSB Secretariat.
- Covered markets and data collection practices from task team members and FSB’s working group on NBFI monitoring.
- Discussed definitions of Fintech lending to ensure clarity in reporting categories of intermediaries and auxiliaries.
- IMF update on ongoing review of statistical manuals (2008 SNA and BPM6) expected to provide more guidance on Fintech lending definitions and accounting framework.
- Interaction with Recommendation 12 (FinTech-enabled financial inclusion) to exploit synergies.
- Data collection plans:
  - Fintech lending data planned to be collected as part of the annual FSB global monitoring exercise on NBFI for 2024.
  - Aim to complete the exercise by end of 2024.
  - Challenges remain, especially in collecting data on interconnectedness.
  - Goal: collect data at an aggregated level, with best-effort granularity.

### Recommendation 11 — Digital Money (April 30–May 2, 2024, Istanbul)
- Organized by IMF and Central Bank of Türkiye.
- Focused on findings of the DGI-3 Recommendation 11 stock-taking exercise (conducted February/March 2024).
- Discussed data collection and source availability on CBDCs with presentations from China and India.
- Suggested approach: structure data template based on IMF’s standardized report forms for monetary statistics, aligned with current central bank balance sheet data.
- Crypto assets template design discussed with inputs from Switzerland, Brazil, and European Banking Authority.
- Observations on data availability:
  - Crypto assets data availability currently scarce; some economies actively investigating data collection.
  - Examples of data efforts:
    - Switzerland: regulatory, financial-stability focused reporting imposed on financial institutions.
    - European Union: regulatory reporting imposed on issuers of stablecoins (as indicated by European Banking Authority).
    - Brazil: crypto data derived from reporting FX contracts (ITRS) and data from tax authorities.
    - South Africa, Brazil, Spain: exploring commercial data providers to estimate crypto usage for macro-financial and stability analysis.
- Approach and expectations:
  - Closing data gaps on digital money and crypto assets will be based on a best-effort approach; datasets need not cover all aspects initially.
  - Data granularity depends on CBDC specifications and may improve over time.
  - Stablecoins and other crypto assets data collection more difficult but promising examples exist (Brazil, Switzerland).
  - For cross-border use, potential future data sharing model where each participating economy reports, as feasible, residents’ holdings of foreign assets and holdings of its CBDC by non-residents.

### Recommendation 12 — Fintech-enabled financial inclusion (December 13–14, 2023)
- Virtual workshop focused on stocktaking survey results and proposal of tentative indicators.
- Stocktaking survey findings:
  - Demand-side: many economies collect financial inclusion data, particularly account ownership of traditional (bank) and digital financial services; most surveyed economies report collecting data on digital financial literacy.
  - Supply-side: commonly available services in G20 economies include E-money, E-wallet, and mobile and internet banking.
  - With some exceptions, most available services are regulated and several service providers are required to submit data.
- Outcomes:
  - Proposed tentative list of indicators based on data availability, potential collection, and data needs.
  - Several economies already collecting some Recommendation 12 data; best practices and challenges shared by Argentina, Brazil, China, Korea, Indonesia, Italy, and South Africa.

### Recommendations 13–14 — Data sharing and reuse (January 15–16, 2024)
- Recommendation 13:
  - Virtual workshop January 16.
  - Stocktaking survey insights and case studies highlighted multiple collaboration options between statistics agencies, central banks, private companies, and administrative data providers.
  - Lessons learned identified best practices and way forward based on specific legislative frameworks.
  - Priority: development of a common taxonomy for data sharing agreements.
- Recommendation 14:
  - Virtual workshop January 15, 2024.
  - Objectives: discuss data reuse modalities and develop a proposal for a microdata sharing standard to ensure safety of data sharing.
  - Discussions held on draft document on data sharing principles covering general recommendations for tools and methods assuring privacy and security applicable to all types of data sharing, including with private data holders (with specific guidelines to be provided by Recommendation 13).

### DGI-3 Global Conference (June 11–13, 2024, Brasilia, Brazil)
- Organized by DGI-3 Secretariat in collaboration with IAG, FSB Secretariat, and Central Bank of Brazil.
- Attendance and scope:
  - Over 140 officials from G20 economies, the IMF, and other international organizations.
  - 3-day data innovation hub for data producers, policymakers, and economists across the G20.
- Conference outcomes and requests from economies:
  - Shared solutions to complex data challenges; emphasized closing critical data gaps and impact on policy interventions related to sustainability, inequality, and financial inclusion.
  - Participants implored international agencies to:
    - (i) increase knowledge-sharing regarding methodologies and practices for macro-critical datasets;
    - (ii) continue to promote the data being developed under DGI-3 and their uses;
    - (iii) provide technical assistance and tools where feasible;
    - (iv) advocate for development of these data to support resource allocation in participating economies.
  - Agreement to link workplans and outputs for Recommendations 13 and 14 by establishing a common data access and sharing framework.

### Planned workshops: September 2024 – December 2027 (timeline highlights)
- Planning horizon spans 2024–2027, with activities across Q3/Q4 2024 through Q1 2027.
- Planned activities include:
  - Regional/country specific workshops in 2024 (Q4) and 2025 (Q2).
  - Workshops to review estimates in 2025 (Q1) and 2026 (Q2).
  - Recommendation 4:
    - Workshop on methodological framework and compilation practices for green listed shares in 2024 (Q4).
    - Workshop to develop guidance on data reporting, and experience with compilation and use of green debt & listed shares in 2025 (Q2).
    - Workshop on implementation of final reporting targets for s-b-s data for green debt & listed shares in 2026 (Q3).
  - Recommendation 5:
    - Workshop to discuss experimental indicators in 2024 (Q4).
    - Workshop to finalize methodology, compilation, and dissemination guidance in 2026 (Q4).
  - Recommendations 6–7:
    - Workshop to refine methodologies in 2024 (Q4) and 2026 (Q2).
    - Workshop to help with implementation of recommendation in 2026 (Q4).
  - Recommendations 8–9:
    - Regional workshop on recs. III.8 and III.9 in 2025 (Q1) and 2026 (Q3).
  - Recommendation 11:
    - Workshop to finalize methodology and reporting templates in 2025 (Q2).
  - Recommendation 12:
    - Workshop to finalize templates and methodology in 2026 (Q2).

### Annex 4 — Updates on implementation of DGI-2 Recommendations (as of July 30, 2024)
- Purpose: Outline DGI-2 data gaps addressed over the last year for several G20 and participating economies.

- Australia:
  - Rec II.7: Securities Statistics.
    - Australia commenced providing data to the BIS in July 2023 in line with previously outlined self-commitments.
    - Data provided to the BIS aligns with data made available from the ABS through the quarterly Australian National Accounts: Finance and Wealth release.
  - Rec II.16: Public Sector Debt Statistics.
    - Australia provides data to the OECD on public sector debt statistics using the standard template format made available by the World Bank/OECD.
    - Data provided to the OECD aligns with data in financial instrument and sectoral data tables contained within the quarterly Australian National Accounts: Finance and Wealth release.

- Brazil:
  - Rec. II.7: Securities Statistics.
    - All self-commitments have been achieved.
    - Table 1.1 was sent to BIS in June 2019; Table 1.2 in January 2022; Table 2.1 in October 2022; and Table 3.1 in January 2023.

*Source: third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 2024. This workshop provided the Task Team members with an update of the methodological framework*

### 3.1 of the Securities Statistics template has been released in 2023.

### third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 3.1 of the Securities Statistics template has been released in 2023.

### Released templates and general notes
- 3.1 of the Securities Statistics template has been released in 2023.

### Brazil
- Rec.II.8: Institutional Sector Accounts
  - Non-financial accounts transactions and financial accounts and balance sheets annual data are published at the Brazilian Institute of Geography and Statistics website (www.ibge.gov.br/en/statistics/economic/national-accounts/17173-system-of-national-accounts-brazil.html?=&t=o-que-e).
  - Dissemination of quarterly financial accounts balance sheets with one-quarter lag started in June 2022.
- Rec.II.11: International Banking Statistics (IBS)
  - Implementation of Stage 2 of IBS enhancements has been concluded.
  - Enhanced breakdowns in locational banking statistics (LBS) are being reported from Q1 2022 data during Q2/2022 reporting cycle and has been reported to BIS in August 2022.
  - Sector breakdown of domestic currency positions vis-à-vis residents of Brazil are not reported in LBS.
  - Stage 2 sector breakdown and domestic claims are not reported in consolidated banking statistics (CBS).
- Rec.II.14: Cross-border Exposures of Non-bank Corporates
  - Dissemination of SRF 4SR started in June 2021.
  - Provision of IBS and securities data separately identifying the NFC sector started in June 2019 (securities) and August 2022 (IBS).

### Canada
- Rec.II.7: Securities Statistics
  - More advanced ambitions data on debt securities issuances as well as From-Whom-To-Whom statistics in line with Handbook on Securities Statistics are already published.
  - Canada continues to work on producing more details on debt securities holdings at market value.
- Rec.II.8: Institutional Sector Accounts
  - Canada currently meets the target reporting requirements for the dissemination of financial accounts and balance sheets as well as the reporting requirements for the dissemination of stocks of non-financial assets.
  - Canada will continue to address remaining gaps in presentation including the ongoing effort to delineate derivatives as a separate top-level item within the accounts and non-financial accounts transactions.
  - Gaps over the medium term will continue to exist in areas such as the sector value-added.
- Rec.II.14: Cross-border Exposures of Non-bank Corporates
  - Canada has consulted with the IMF on the 4 standard reporting forms and currently submits the Other financial Corporations Survey under the SDDS Plus mantle.
  - Work is ongoing to align existing from-whom-to-whom detail produced within Canada’s current balance sheet account with the requirements of the 4 standard reporting forms with the goal of a future submission.

### China
- Rec.II.2: Financial Soundness Indicators (FSIs)
  - Since 2022 Q4, the PBoC has reported FSIs to the IMF.
- Rec.II.5: Non-Bank Financial Intermediation
  - The CSRC regularly collects information on mutual funds, including daily data on the fund size, purchase and redemption, asset allocation, weekly data on bond holding, regulatory compliance indicators, monthly trading, and monthly financial information.
  - The CSRC strengthened monitoring of private asset management activities of securities and futures broker-dealers and fund firms; collects information on the source of the fund and asset allocation on a monthly basis.
  - Private investment funds regularly report investment information to the regulatory authority.
  - Data gaps remain regarding interconnectedness data, balance-sheet data to compute vulnerability metrics (liquidity/maturity transformation and leverage) and securities financing transaction data.
- Rec.II.6: Derivatives
  - Data for futures can be accessed this link.
- Rec.II.8: Institutional Sector Accounts
  - The PBOC is preparing as well as releasing Flow of Funds Accounts (financial transaction part).
  - The PBOC released the Flow of Funds Account for the first half of 2020 through its website and other channels in March 2021.
  - It is improving the existing accounting system of funds flow with a view to gradually increasing the reporting frequency to quarterly basis.
  - The National Bureau of Statistics of China actively compiles and releases annual Flow of Funds Account (non-financial part).
  - By the end of June 2024, the NBS had released the Flow of Funds Account (non-financial part) for 2022 through its website.
- Rec.II.13: Coordinated Direct Investments Survey (CDIS)
  - The State Administration of Foreign Exchange provides inward and outward data on outstanding equity and debt investment to the IMF annually. The data can be accessed at this link.
- Rec.II.15: Government Finance Statistics (GFS)
  - Information including the national government final accounts and central government budget can be accessed at this link.
- Rec.II.16: Public Sector Debt Statistics (PSDS)
  - Local government debt data can be accessed from yss.mof.gov.cn/zhuantilanmu/dfzgl.
  - Data includes outstanding amount, issuance amount, term structure and financing cost.
  - Sovereign bond data is published on a quarterly basis in line with SDDS, including general information such as total amounts, and detailed information broken down by maturity, debt instrument, currency, and creditors’ residence.
- Rec. II.17: Residential Property Prices (RPP)
  - The National Bureau of Statistics has compiled and published monthly sales and price indices of commercial residential properties in 70 large and medium-sized cities. The website is www.stats.gov.cn.

### France
- II.2 Financial Soundness Indicators (FSIs)
  - Data published at: FSIs | Banque de France.
- II.3 FSI Concentration and Distribution Measures (CDM)
  - Not published (cf. Concentration and Distribution Measures - IMF Data).
- II.4 G-SIFIs
  - Published at Systemic entities of the banking sector | ACPR (banque-france.fr).
- II.5 Non-Bank Financial Intermediation
  - International banking statistics | Banque de France. France sends data for the FSB global monitoring but does not send SFT data to the BIS.
- II.7 Securities Statistics
  - Data published.
- II.8 Institutional Sector Accounts
  - Institutional sectors in 2023 − The national accounts in 2023 | Insee ; Institutional sectors − Quarterly national accounts in Q1 2024 | Insee.
- II.9 Household Distributional Information
  - Distributional Wealth Accounts for each country of the euro area are published every quarter by the ECB and by the Banque de France (links provided in source).
- II.10 International Investment Position (IIP)
  - Balance of Payments and international investment position/International Investment Position (banque-france.fr).
- II.11 International Banking Statistics (IBS)
  - Locational banking statistics - data | BIS Data Portal; Consolidated banking statistics - data | BIS Data Portal.
- II.12 CPIS; II.13 CDIS; II.14 Cross-border Exposures of Non-bank Corporates
  - Relevant datasets and portals cited in source.
- II.15 GFS; II.16 PSDS; II.17 RPP; II.18 CPPI
  - Quarterly Financial accounts of General Government | Banque de France; PSDS | Banque de France; Price indices and work in progress as indicated.

### Hong Kong
- Rec. II.7 Securities Statistics
  - The HKMA has implemented most self-commitments of the stock data at nominal and market value, and net transactions at market value on Debt Securities Issuance Statistics in line with the Handbook on Securities Statistics.
  - Response only covers debt securities items that are reported by the HKMA.
- Rec. II.11 International Banking Statistics
  - The HKMA will implement the 2019 IBS Guidelines starting from the December 2024 position.

### Japan
- Rec.II.14: Cross-border Exposures of Non-bank Corporates
  - Japan has started reporting the NFC data for major items in LBS to the BIS from 2023 Q1, in addition to the data in CBS (from Q4 2019).

### Mexico
- Rec.II.8: Institutional Sector Accounts
  - In September 2020 along with the quarterly accounts by institutional sector the quarterly whom-to-whom sectoral tables were published.
  - Tables T0625 and T0725 were sent to the OECD for the first time on December 9, 2021, concluding Mexico’s commitments concerning rec.II.8, which has been fully implemented.

### Saudi Arabia
- Rec.II.8: Institutional Sector Accounts
  - Work is underway to provide annual data for the financial and non-financial account as a preliminary stage.
- Rec.II.10: International Investment Position (IIP)
  - IIP data published by SAMA are still highly aggregated.
  - Work is underway to finalize preparation of IIP data by sectors in line with DGI requirements.
  - Preparation of the IIP by currency remains a challenge.
- Rec.II.11: International Banking Statistics (IBS)
  - The Saudi Central Bank (SAMA) started working with the BIS for reporting CBS in near future.
- Rec.II.13: Coordinated Debt Investments Survey (CDIS)
  - Work is underway to implement a comprehensive quarterly and annual survey of Foreign Direct Investment by country and economic activity, with SAMA now working on a CDIS report to the Fund.
  - FDI statistics have been revamped and aligned with IMF TA mission recommendations in February 2024, covering detailed flows and positions of inward FDI by country and economic activity.
- Rec.II.15: Government Finance Statistics (GFS)
  - Central Government Data has been reported quarterly; quarterly General Government Data work is still in progress.
- Rec.II.16: Public Sector Debt Statistics (PSDS)
  - Government debt is reported with no issue; current data is a good proxy of the general government.
  - Way forward is to include data for the main public corporations.

### South Africa
- Rec.II.5 Non-Bank Financial Intermediation
  - SARB participates actively in submitting NBFI data for the annual monitoring exercise.
  - Some data gaps exist due to lack of availability; these range from not material to not being an immediate priority.
  - SARB will continue monitoring the NBFI sector.
- Rec.II.7 Securities Statistics
  - Project plan for climate finance debt securities issuance statistics includes adding unlisted debt securities issuance to DGI-2 Recommendation 7 and DGI-3 Recommendation 4.
  - Detailed data on debt securities issuance in international markets by residents have been established.
  - Economy is finalizing the time series with data from the first quarter of 2023; this will be reported for both DGI-2 Recommendation 7 and DGI-3 Recommendation 4.
- Rec.II.8 Institutional Sector Accounts
  - Institutional sector accounts are well under way; focus on framework refinement, assessment, data and methodological gap identification and development plan implementation.
  - National Accounts unit and Integrated Economic Accounts Unit responsible to develop three accounts of the sector accounts to fully fledged semi-official and later official statistics over the next three to five years.
  - Focus areas: primary data source improvement, statistics compilation improvement, vertical integration and horizontal refinement for non-financial and financial accounts.
  - IEA statistics are published in the South African Reserve Bank's Quarterly Bulletin and disseminated to the OECD on a quarterly basis.
  - Tables disseminated to the OECD constitute quarterly and yearly datasets for transactions (table T0620) and stock positions (table T0720) as of 2010Q1.
- Rec.II.11 International Banking Statistics
  - South Africa has been reporting Locational Banking Statistics, effective from September 2013, with a one quarter lag.
  - Most initial requirements are in place; work ongoing on some enhanced requirements.
  - Recently started submitting encouraged derivative data; other encouraged datasets included in a revised LBS banking survey planned for implementation in late 2025.
  - No progress has been made on CBS given multitude of other projects.
- Rec.II.16 Public Sector Debt Statistics (PSDS)
  - Nominal values of Quarterly PSDS are submitted to the World Bank with a two quarter lag.

### Türkiye
- Rec.II.10: International Investment Position (IIP)
  - Currency composition tables for IIP for the years 2016-23 are planned to be reported to the IMF by end of September 2024.
- Rec.II.11: International Banking Statistics (IBS)
  - Domestic positions vis-à-vis residents in LBS are not planned to be reported.
  - Regarding CBS, domestic positions in domestic currency are not reported yet but planned to be reported with the CBS-revisions by end-2025.
- II.18: Commercial Property Prices
  - CBRT started publishing CPPI, RPI and Office Price Index (OPI) quarterly on February 26, 2024.
  - Indices published for three major cities (İstanbul, Ankara, İzmir) and the whole country.
  - Series are calculated starting from the second quarter of 2015 and taking 2017 as the base year.
  - Data sources are valuation reports prepared by real estate appraisal companies for banks.
  - In calculation of the RPI and OPI, the “characteristic-prices-based method” has been used.
  - Regional GDP values, which belong to two years ago, are used as weights for aggregating the strata in constructing the RPI and OPI.
  - RPI and OPI are weighted by the total value of properties to construct CPPI.
  - Quarterly online press releases for Commercial Property Price Index are published on the website of CBRT.
  - Time series data is available on online database: EVDS.
  - CPPI data is submitted to BIS and IMF quarterly and is going to be sent to Eurostat when Eurostat CPPI data transmission system will be ready.

### United Kingdom
- ONS transformation
  - ONS has ambitious plans to transform the UK’s economic statistics in partnership with the Bank of England to develop UK financial accounts and meet G20 DGI-2 and SDDS Plus.
  - Aim to improve coverage, quality, and granularity of UK financial statistics; transformation will continue and deliver on outstanding DGI-2 Recommendations over time.
- Rec.II.2 FSIs
  - Bank of England reviewing and updating processes to bring the UK in line with the 2019 FSIs guidance.
  - Work includes increasing efficiency and timeliness of producing quarterly data ahead of dissemination.
  - Bank now provides the IMF with timely quarterly exports of the core indictors.
  - Reconciliation exercise between existing and new methods has led to delays to recent updates to the IMF.
- Rec.II.5 Non-Bank Financial Intermediation
  - UK started compiling and submitting some Securities Financing Transactions (SFT) data to the FSB during July 2023.
- Rec.II.7 Securities Statistics
  - Bank of England and ONS collaborating on development of a securities issuance and holdings database.
  - First delivery phase went live in February 2021 with second phase in June 2022.
  - Further work ongoing to bring consistency and integrate issuance and holdings databases into a single platform; consolidation expected to complete in 2025.
- Rec.II.8 Institutional Sector Accounts
  - UK regularly publishes experimental statistics for SNA 2008 financial sub-sectors S.125-S.127 via Financial Services Survey 266.
  - Recent improvements: S.128 quality using Solvency II data and S.129 using new Pension Funds Survey.
  - UK adhered to SDDS+ in August 2022; SDDS+ 5-year transition period provides a framework for improving financial instrument data (particularly Debt Securities) and financial sub-sectors.
- Rec.II.10 International Investment Position
  - Work continues towards delivering currency split data agreed with IMF to uplift the UK’s status to green (equivalent).
  - Work progressing on separate identification of Other Financial Corporations.
- Rec.II.14 Cross-border Exposures of Non-bank Corporates
  - UK updated samples/surveys for non-money market funds (S.124) and financial services sample/survey (S.125-S.127).
  - Integration of improvements into national accounts has started and will take time to fully complete.
  - This will provide data covering S.124-S.129, complete balance sheets including 100 percent of OFC assets.
  - IAG indicated UK would now meet the Amber requirement for DGI-2 Recommendation 14.

### United States
- Rec.II.11: International Banking Statistics (IBS)
  - Reporting data on local claims/liabilities in locational banking statistics (LBS) is still under development.

### Singapore (Non-G20 FSB Member Economy)
- Rec.II.5: Non-Bank Financial Intermediation
  - Target 2: Singapore started reporting to the FSB data on SFTs (for repos only).
  - Data submitted to BIS for January 2022 onwards.

*Source: third-phase-of-the-g20-data-gaps-initiative-second-progress-report - 3.1 of the Securities Statistics template has been released in 2023.*

### Annex 5. The DGI-3 Governance Framework

### Annex 5. The DGI-3 Governance Framework

### Governance structure and roles
- The DGI-3 is coordinated by the IMF which provides the DGI Secretariat, in close cooperation with the IAG, the FSB and the G20 Presidency, and reports to the G20 FMCBGs.
- The IAG will continue to play the role of global facilitator and coordinator, contributing to the enhancement of the global statistical infrastructure, and, in addition to facilitation, also monitors progress.
- The FSB Secretariat participates in the IAG meetings.
- For each recommendation, lead and contributing international organizations are identified according to their mandate and previous contributions.

### Leading and contributing international organizations (per recommendation)
- Rec 1: Greenhouse Gas (GHG) Emission Accounts and National Carbon Footprints — IMF, UNSD, Eurostat (leads), and the OECD.
- Rec 2: Energy Accounts — UNSD (lead), as Secretariat of the United Nations Committee of Experts on Environmental-Economic Accounting (UNCEEA), with Eurostat and IMF.
- Rec 3: Carbon Footprints of Foreign Direct Investment (FDI) — IMF (lead), with OECD.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing) — BIS and ECB (leads), with IMF, OECD, FSB (user perspective) and with the work being coordinated by the BIS-ECB-IMF Working Group on Securities Databases (WGSD).
- Rec 5: Forward Looking Physical and Transition Risk Indicators — IMF (lead), with World Bank, ECB, OECD, FSB, and BIS/Irving Fisher Committee on Central Bank Statistics (IFC).
- Rec 6: Climate-Impacting Government Subsidies — IMF, OECD, and UNSD (leads) with Eurostat.
- Rec 7: Climate Change Mitigation and Adaptation Expenditures — IMF and UNSD (leads), with Eurostat, World Bank, and OECD.
- Rec 8: Distribution of Household Income, Consumption and Savings — OECD (lead), with Eurostat, UNSD, World Bank and IMF.
- Rec 9: Distribution of Household Wealth — OECD (lead), with ECB, Eurostat and UNSD.
- Rec 10: Fintech Credit — FSB (lead), with BIS/IFC and ECB.
- Rec 11: Digital Money — IMF (lead), with BIS/IFC, ECB, and FSB (user perspective).
- Rec 12: Fintech-enabled Financial Inclusion — IMF and World Bank (joint leads), with BIS/IFC, and OECD.
- Rec 13: Access to Private and Administrative Data — IMF (lead), with Eurostat and ECB in consultation with the G20 and participating economies.
- Rec 14: Data Sharing — Eurostat and ECB (leads) with World Bank, and other IAG members.

### DGI-3 task teams: composition, formation, and mandate
- Task teams have been established to organize and implement the workplan across the range of topics covered by DGI-3.
- Timeline:
  - By end-January 2023, the IAG extended a formal invitation to the G20 and participating economies to nominate their DGI-3 task team representatives.
  - The nomination process concluded in mid-March 2023 and details of the respective task teams were shared with the IAG and leading organizations to start planning meetings and thematic workshops.
- Composition:
  - Task teams are comprised of representatives from the IAG designated lead agencies, G20 and participating economies and other key stakeholders.
  - Each task team has a chair and secretariat (members of the IAG designated lead agencies) and technical expert members from the G20 and participating economies.
  - Key stakeholders include but are not limited to: United Nations Framework Convention on Climate Change (UNFCCC), Secretariat, System of Environmental-Economic Accounting (SEEA) Technical Committee, Intersecretariat Working Group on National Accounts (ISWGNA), IMF Committee on Balance of Payments Statistics (BOPCOM), Expert Group on Disparities in a National Accounts framework (EG DNA) (OECD), Network of Central Banks and Supervisors for Greening the Financial System (NGFS), WGSD, non-bank monitoring expert group (NMEG), and the International Public Sector Accounting Standards Board (IPSASB).
  - The DGI Task Teams should be engaged for the period January 2023 – December 2027.

### The DGI-3 Task Teams (mapping of recommendations to teams)
- Rec 1: GHG Emission Accounts and National Carbon Footprints; Rec 2: Energy Accounts; Rec 3: Carbon Footprints of FDI — Task Team on GHG Emissions, Carbon Footprints and Energy Accounts.
- Rec 4: Climate Finance (Green Debt and Equity Securities Financing) — Task Team on Climate Finance (led by the existing WGSD).
- Rec 5: Forward Looking Physical and Transition Risk Indicators — Task Team on Forward Looking Physical and Transition Risk Indicators.
- Rec 6: Climate-Impacting Government Subsidies; Rec 7: Climate Change Mitigation and Adaptation Expenditures — Task Team on Climate Impacting Subsidies, Climate Change Mitigation and Adaptation Expenditures.
- Rec 8: Distribution of Household Income, Consumption and Savings; Rec 9: Distribution of Household Wealth — Task Team on Household Incomes, Savings, Consumption and Wealth. The OECD will be using the Expert Group on Disparities in a National Accounts framework (EG DNA) to coordinate the work of Recommendation 8 and has launched a new Expert Group on Distribution of Household Wealth (EG DHW) to coordinate the work of recommendation 9.
- Rec 10: Fintech Credit — Task Team on Fintech Credit. The FSB is using the non-bank monitoring expert group (NMEG) to coordinate the work of recommendation 10.
- Rec 11: Digital Money — Task Team on Digital Money.
- Rec 12: Fintech-enabled Financial Inclusion — Task Team on Financial Inclusion.
- Rec 13: Access to Private and Administrative Data — Task Team on Data Exchange.
- Rec 14: Data Sharing — Task Team on Data Sharing.

### Task team objectives and reporting
- Objectives:
  - Execute the project plan for each DGI recommendation (or group of recommendations), including undertaking stocktaking exercises.
  - Establish methodological and data collection frameworks, questionnaires, report forms, and tools.
  - Implement guidance and facilitate the compilation of data required by the targets.
  - Engage with stakeholders to ensure complementarity, consistency and to avoid overlap in work programs.
  - Facilitate sharing of compilation methods across G20 and participating economies and the compilation of estimates.
  - Review results and coordinate the dissemination of the resulting information.
- Reporting:
  - Task teams report to the DGI Secretariat and the IAG regarding progress on the implementation of the DGI-3 project plan through semiannual questionnaires, as well as during the DGI-3 Global Conferences.

### G20 country coordinators and engagement platforms
- G20 country coordinators:
  - Coordinate DGI-3 implementation at the national level and serve as a DGI-3 focal point to the DGI Secretariat.
  - Provide inputs to the DGI Secretariat on individual economies’ progress necessary for drafting the DGI-3 progress report.
  - Participate in the DGI-3 Global Conferences and workshops organized by the DGI-3 task teams, as needed.
  - Oversee coordination of nomination and provision of regular updates of the DGI-3 task team members to the DGI Secretariat.
- DGI Global Conferences:
  - Serve as a platform for G20 country coordinators to meet and discuss with the IAG and international organizations progress on the implementation of the DGI-3 recommendations, issues of strategic relevance, and exchanging country practices and peer learning experiences.

*Source: third-phase-of-the-g20-data-gaps-initiative-second-progress-report - Annex 5. The DGI-3 Governance Framework*

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_Source: https://www.imf.org/-/media/files/news/seminars/dgi/documents/third-phase-of-the-g20-data-gaps-initiative-second-progress-report.pdf_