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Canada offers to host the ISSB headquarters

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Jul 26, 2021

On July 26, 2021, the Trustees of the IFRS Foundation held an additional meeting by video conference to review progress towards the proposed establishment of an International Sustainability Standards Board (ISSB) within the governance structure of the IFRS Foundation.

The Trustees discussed a letter jointly sent by the Government of Canada and a coalition of over 55 Canadian public and private institutions that invites the Trustees to locate the ISSB headquarters in Canada. The letter also notes that a broad coalition of Canadian public and private institutions would provide a "significant 'Welcome Fund'" to fully support the initial period of the ISSB's operations. This financial support would be broad based with no controlling interest and sources fully disclosed and the offer is designed to ensure that there is no condition that would infringe on the IFRS Foundation's independence in the setting of standards.

The Trustees welcomed the support as outlined in the letter and also confirmed they would welcome by the end of August 2021 expressions of interest from other jurisdictions or organizations in providing seed capital for the ISSB and in widening the IFRS Foundation’s global footprint.

Review the following additional information on the IASB's website and on the website of the Government of Canada:

 

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