The City of Montreal has been chosen to host the main offices of the new International Sustainability Standards Board (ISSB).
The announcement was made Wednesday by the International Financial Reporting Standards Foundation, a nonprofit accounting organization, at the COP26 climate summit being held in Glasgow, Scotland.
The mission of the ISSB will be to come up with standards that govern how information relating to environmental and social issues, as well as good governance, is disclosed by companies.
Read more: COP26: Trudeau says world needs a ‘standard’ for pricing carbon. What might that look like?
While Frankfurt, Germany, has been chosen to host the ISSB’s headquarters, Montreal will serve as the organization’s North American hub.
Get daily National news
In a bid to consolidate Montreal’s position as a leader in hosting international organizations, the government approached the IFRS Foundation last September, according to the premier’s press attaché, Ewan Sauves.
- Tsleil-Waututh Nation files court challenge against Burrard Inlet dredging plan
- ‘Extraordinarily rare’ dolphin sightings reported in B.C.’s waters
- 5 people injured after tornado hits campground near Alberta-Saskatchewan border
- Meta to build $13 billion data centre in Alberta, largest outside the U.S.
In a press release, Sauves said Montreal’s role in establishing and developing a new organization dedicated to sustainable finance meshes perfectly with government objectives, notably in regards a policy on welcoming international organizations and its 2030 green economy plan.
“It is an initiative that brings together economic growth and sustainability on a global scale,” he said.
Comments
Want to discuss? Please read our Commenting Policy first.