This Regulation amends Regulation (EU) No 691/2011 on European environmental economic accounts by introducing three new environmental economic account modules:1. Forest accounts – to record data on forest resources and economic activity in forestry/logging industry2. Environmental subsidies and similar transfers accounts – to track government payments supporting environmental protection3. Ecosystem accounts – to measure the extent and condition of ecosystems and their services to society/economy
Structure and Main Provisions:
- The Regulation contains 3 articles and adds 3 new detailed annexes (VII-IX) specifying requirements for each new module
- Key changes include:
- New reporting requirements for forest resources, environmental subsidies, and ecosystem services data
- Creation of an Environmental Economic Account Statistical Data Portal by end of 2024
- Updated references from EU-28 to EU-27 and ESA 95 to ESA 2010
- New provisions for financing implementation through the Single Market Programme
Key Implementation Elements:
- First reference year is 2023/2024 depending on the module
- Annual or triennial reporting requirements with 21-24 month transmission deadlines
- Detailed specifications for data collection, compilation and reporting in physical and monetary units
- 2-year maximum transitional period for implementation
- Commission empowered to adopt delegated acts for methodological guidance and amendments
- Member States can receive financial support for modernization and quality improvement
