Montreal loses out on ISSB seat at COP26, but gets a consolation prize
MONTREAL -
Montreal suffered a setback at the United Nations Climate Change Conference (COP26) in Glasgow, but won't be leaving empty-handed.
The financial community said it had hoped to win a seat on the International Sustainability Standards Board (ISSB), but the honour was given to Frankfurt, Germany.
The announcement was made Wednesday in Glasgow.
As a consolation prize, Montreal will be home to one of the ISSB's main offices.
In a recent interview with The Canadian Press, the president of the Caisse de dépôt et placement du Québec, Charles Emond, had said he was vying for the board's headquarters.
Despite not winning a seat, a government source suggests "this still shows that things are happening in Montreal."
The mission of the ISSB is to establish and disseminate, on an international level, the standards of environmental, social and good governance (ESG) information shared by companies.
-- This report by The Canadian Press was first published in French on Nov. 3, 2021.
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