Memoranda of understanding signed to establish ISSB in Frankfurt

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Mar 02, 2022

On March 2, 2022, during the meeting of the Trustees of the IFRS Foun­da­tion currently taking place in Frankfurt, Germany, the Trustees have signed memoranda of un­der­stand­ing with German public and private sector in­sti­tu­tions to establish the presence of the International Sus­tain­abil­ity Standards Board (ISSB) in Frankfurt.

The memoranda of un­der­stand­ing formalize the part­ner­ships and funding arrange­ments required to establish the ISSB in Frankfurt. While the ISSB will have a global, multi-lo­ca­tion presence, the Frankfurt office will provide the seat of the Board and the office of the ISSB Chair. The office will provide key support functions for the ISSB, including the hosting of board meetings, and will act as a hub for the Europe, Middle East and Africa region.

The Trustees previously announced that Montreal will also host key functions of the ISSB and will act as a hub for the Americas region, enabling close cooperation with the San Francisco office (the Value Reporting Foundation (VRF) has headquarters in San Francisco, and the consolidation of the VRF into the IFRS Foundation is expected to be completed by June 30, 2022).

Please click for ad­di­tional in­for­ma­tion in the press release on the IFRS Foun­da­tion website.

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