What is the role of the ISSB Montreal office?
The Montreal center is one of the main offices of the ISSB, along with the Frankfurt office. The Montreal office should not be seen as a regional center, even if the Montreal office is the reference for the Americas. It is a leading office, which carries out certain executive functions. Members of management are established here. Each year we host several meetings with decision-makers from the ISSB, who create the standards and launch their implementation. Established standards enable companies to provide strategic information about their environmental impact to financial markets. We are in the right place in Montreal, because the metropolis has a strong financial sector, expertise and leadership in sustainable finance.
What is the benefit for Quebec of having this office here?
The presence of this office creates proximity with the business community and the Quebec and Canadian governments. We benefit from the support of major Canadian pension funds, financial system players and investors. They are among those who spread the standards we create. The ISSB teams work transversally and globally, so that the standards are representative and can be adopted within the different realities of each territory in the world. For Quebec, it is the possibility of having a certain influence on the standards, through an approach made easier for members of the ISSB. Also, having people on site facilitates access to training and services, more than in other countries.
What assessment do you draw up after two years of activity of the Montreal office of the ISSB?
We have come a long way in a short period of time. Two standards have just been launched: standard S1, on sustainability, and standard S2, on information relating to climate change, have been in force since 1er January 2024. We are now working on their adoption, which is underway in 18 territories. This is the case in Canada, where the adoption process is progressing.
What are the prospects for the years to come?
In terms of staff, there are currently 25 of us in the Montreal office, and there will be around 30 of us by the end of the year in our permanent premises in Place Ville Marie, where we have just moved after being housed for two years by a third party organization. In particular, we are going to recruit people to join the technical team, that is to say standards experts, because we have important work ahead of us. The S1 and S2 standards are due to be revised, because the more people use them, the more they must be adapted to be even more efficient over the years. And other standards will complement what already exists in terms of sustainability. We are working on defining the next draft standards. Our next priorities will be announced in the coming weeks.
reference: www.lapresse.ca