Montreal to host ISSB, a new international standard-setting organization for sustainable finance

The ISSB structure also includes subsidiary offices in London, San Francisco and eventually Asia-Oceania, to benefit from a strategic worldwide presence in support of key offices.

The announcement was made at the United Nations Climate Change Conference (COP 26) by Erikki Liikanen, Chair of the Board of the International Financial Reporting Standards Foundation (IFRS Foundation).

Montreal is now part of the solution to a complex problem that requires the gathering of all nations on all continents. The arrival of the ISSB proves that Montreal is a hub of sustainable finance and our expertise will help decarbonize the global economy, ” sabi Stéphane Paquet, President and CEO of Montreal International. “This is the project that has generated the most enthusiasm since I joined the Montreal International team 6 years ago. Support has grown rapidly, both from the private sector and the public sphere. Today, therefore, we are also celebrating a great event. that mobilization that has been in our favor. »

Today, we can be proud that our leadership in sustainable finance is recognized around the world. The IFRS Foundation’s decision to establish one of the ISSB’s main offices in Montreal proves that Quebec and Canada’s expertise in this field is now beyond our borders. “, he said Jacques Deforges, Managing Director, Finance Montreal. ” Finance Montréal is particularly proud to have partnered with the Montréal and Canada bid, a result of the strong spirit of collaboration that exists within our dynamic ecosystem and that heralds good for the future. »

The ISSB is an initiative of the IFRS Foundation, which is responsible for accounting standards used in more than 140 jurisdictions. The standards set by the ISSB will allow companies to provide strategic information on their environmental impact across all financial markets.

A project that mobilizes all walks of life

Montréal’s candidacy, led by Montréal International and Finance Montréal since January 2021, has received the support of many members of the business, academic and environmental communities, the Assembly of First Nations of Québec and of Labrador, elected officials and government equipment, at all three levels. The project also mobilized the entire Canadian financial community, ensuring a substantial contribution for the realization of this project.

Montréal International and Finance Montréal also wants to recognize the work of all participants who contributed to the selection process. Mr. Charles-Antoine St-Jean, CEO of CPA Canada, initiated and coordinated the Canadian bid in partnership with the Government of Canada.

Stéphane Paquet, President and CEO of Montreal International, Marc-André Blanchard, Senior Vice-President and Head, CPDQ Worldwide, and Anne-Marie Hubert, Managing Partner for Eastern Canada, Ernst & Young, led the presentation of Montreal’s candidacy , on September 16, supported by the Premier of Quebec, François Legault, and the Mayor of Montreal, Valérie Plante.

Key players in the community have also undertaken strategic interventions, including:

  • Guy Cormier, President and CEO, Desjardins
  • Daniel Jutras, Rector, University of Montreal
  • Véronique Lamontagne, Director of the Office of International Relations, City of Montreal
  • Valérie Amiraux, vice-rector for community and international partnerships, University of Montreal

Montreal, city of international organizations and sustainable finance

Montréal hosts more than 65 international organizations (IOs), including 4 UN headquarters, thus positioning itself as the 3rd most important city for international organizations in North America, after New York and Washington. These include many IOs in sustainable development.

In addition, Montreal stands out as a leading location for sustainable finance in North America. It ranks 1st in Canada and 3rd in North America in this sector among the 78 financial centers analyzed in the international Global Green Finance Index 7 (GGFI 7).

For more information on international sustainable development organizations, click here.