Memoranda of understanding signed to establish ISSB in Frankfurt
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.
