On November 3, 2021 the International Financial Reporting Standards (IFRS) Foundation announced that it will set up offices for the new International Sustainability Standards Board (ISSB) in Montreal, Canada.

The ISSB’s mission will be to address the current challenges related to ESG reporting by providing investors and companies with standards for reporting sustainability measures.

Frankfurt has been named as the headquarters of the ISSB.

IFRS was established to develop globally accepted accounting standards, providing transparency and enabling investors and other market participants to make informed economic decisions.