In addition to international financial reporting, the IFRS Foundation will also standardise sustainability reporting in the future. For this purpose, the International Sustainability Standards Board (ISSB) will be created. The aim is to develop global standards for sustainability reporting of companies.

The IFRS Foundation decided on 3 November 2021 that Frankfurt will be the head office of the ISSB. The decision strengthens the financial centre in competition with other cities. As the voice of investors, BVI has always pioneered the need for global solutions, and the announcement of the location issue for the climate conference in Glasgow underlines the international dimension.

Access to internationally aligned, high-quality ESG data is crucial for fund managers to manage sustainability risks and identify sustainable investment opportunities for their investors.

Frankfurt's application was supported by the Federal Ministry of Finance and Federal Ministry of Justice, the Hessian Ministry of Finance, Frankfurt Main Finance, Value Balancing Alliance and Wirtschaftsförderung Frankfurt, as well as a large number of industry associations (including BVI) and their member companies.

More information on the ISSB can be found here.