Among the countries ready to host the International Sustainability Standards Board (ISSB), three more candidates – Germany, Japan and Switzerland – have joined Canada.
If we talk about Germany, the location must be Frankfurt. The city has a high chance, as it enjoys the support of 185 organizations. It is already embedded in the ecosystem driving sustainable finance and business. It is one of the largest financial centers with the world-famous Frankfurt Stock Exchange. The largest international companies open their offices here. In general, there are more than enough arguments in favor.
Japan is also an equally matched player. Its strong and very warm cooperation with the IFRS Foundation, an organization under whose wing a new international developer will soon start operating, is well-known. The importance of complying with the Asia-Oceania region with future international sustainability reporting standards is undeniable, and if Japan hosts ISSB headquarters, it will no doubt be more active in promoting new standards in the region by influencing its stakeholders. In its appeal to the IFRS Foundation, the Japanese side stresses as another argument in its favor the readiness to provide financial and technical support to the new developer, which will not be superfluous in the early stages.
Another country that has offered to host ISSB headquarters is Switzerland. The main arguments are the proximity of Geneva to many important international organizations and its good reputation as an independent and neutral space for international negotiations.