IFRS Foundation launches Montreal ISSB centre supported by key actions
The IFRS Foundation today announced a package of key actions, including a new Memorandum of Understanding (MoU) with Montréal International to obtain the financial support of the Government of Canada and the Government of Quebec. This support will help the IFRS Foundation to fully establish its International Sustainability Standards Board (ISSB) within the Canadian sustainability ecosystem. The actions follow the announcement at the November 2021 COP26 climate conference that the ISSB would establish a Montreal centre as part of a multilocation approach.
This latest announcement builds on the April 2022 signing of an MoU with a coalition of private-sector stakeholders, organised by Chartered Professional Accountants of Canada (CPA Canada). The IFRS Foundation has:
- Signed a public sector MoU facilitated by Montréal International on behalf of the Government of Canada and the Government of Quebec;
- commenced operations in Montreal with the June 2022 Trustees’ meeting, and initiated activities to support the ISSB’s full onsite presence, which would include staff and recently announced ISSB members, Jeffrey Hales and Michael Jantzi;
- announced the appointment of Charles-Antoine St-Jean as Regional Director—Americas, located in the Montreal office, with responsibilities that include connecting the work of the ISSB into the broader Canadian sustainability ecosystem;
- scheduled initial ISSB meetings to be held in Montreal in October and December 2022; and
- confirmed that the inaugural ISSB Symposium will be hosted in Montreal, with the dates to be confirmed.
This announcement coincides with a meeting of the IFRS Foundation Trustees, taking place for the first time in Montreal on 28-30 June 2022. The Trustees are responsible for the governance, oversight and financing of the IFRS Foundation, as well as appointments to the International Accounting Standards Board (IASB) and the ISSB. As part of their meeting, the Trustees will co-host with CPA Canada a stakeholder event to recognise support from the Canadian private and public sectors.
About the IFRS Foundation
The IFRS Foundation is a not-for-profit organisation created to serve the public interest by developing globally accepted financial reporting standards that meet investors and other capital market participants’ need for reliable, transparent and comparable information to make economic decisions.
Our standards―IFRS Accounting Standards and IFRS Sustainability Disclosure Standards—are developed by the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). The boards are overseen by the IFRS Foundation Trustees, who in turn are accountable to the IFRS Foundation Monitoring Board of public authorities with responsibility for corporate reporting. Our governance arrangements are set out in our Constitution.
IFRS Accounting Standards, set by the IASB, are required in more than 140 jurisdictions.
For detailed information about our organisation, visit ifrs.org.
