Sustainability is at the forefront of any global agenda at the moment, and the accounting industry is no exception. The IFRS is setting up centres for the new International Sustainability Standards Board (ISSB) which was established at the COP26 climate conference in November 2021.
CPA Canada are working alongside the IFRS to set up a centre in Montreal which will host some of the key functions on behalf of the ISSB, including the coordination of activity across the Americas. For now, there will also be a presence in San Francisco, where the Value Reporting Foundation is located, but the VRF — the recently merged group overseeing the Sustainability Accounting Standards Board and the International Integrated Reporting Council — is scheduled to be consolidated into the ISSB by the end of June.
As well as a centre in Montreal, the IFRS Foundation, which oversees the International Accounting Standards Board (IASB) in London, signed a memorandum of understanding to establish a Frankfurt location. This location in Germany will host key functions and coordinate activities in the Europe, Middle East and Africa regions.
Emmanuel Faber, chair of the ISSB said "I am delighted the Trustees chose Montreal as a key location for the ISSB. It provides a valuable sustainability ecosystem to support our future work and will provide an excellent base, along with Frankfurt, for our future success."
Arrangements for the Asia-Oceania region are progressing.
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