Government of Canada renews support to the International Sustainability Standards Board office in Montréal

From: Department of Finance Canada

News release

June 5, 2026 – Montréal, Québec – Department of Finance Canada

In an increasingly divided and uncertain world, the Government of Canada is focused on what it can control—building a stronger, more independent, and more sustainable economy—and is committed to mobilizing public and private capital to support investment in the transition to net-zero.

Sustainable finance is central to this effort. By encouraging banks, pension funds, and investors to direct capital in ways that support climate goals, sustainable finance demonstrates that economic growth and long-term sustainability can go hand in hand.

Today, at the Sustainable Finance Summit, Ryan Turnbull, Parliamentary Secretary to the Minister of Finance and National Revenue, announced that the Government of Canada will invest $10 million over five years to support continued operations of the International Sustainability Standards Board (ISSB) in Montréal. This funding, to be delivered by Canada Economic Development for Quebec Regions, is supplemented by contributions from a coalition of several dozen Canadian public and private institutions.

The ISSB develops global sustainability-related disclosure standards, enabling firms and investors to assess relevant risks and opportunities, including those arising from climate change, and to direct private capital towards the transition to net-zero, both in Canada and around the world.

Building on Canadian leadership and expertise in sustainable finance, the ISSB’s climate-related disclosure standards, and their domestic adaptation published by the Canadian Sustainability Standards Board, have quickly emerged as clear authoritative standards for assessing and disclosing climate-related financial risks.

Federal government support will permit the ISSB’s continued engagement with stakeholders across Canada and the Americas on the adoption of climate disclosures. Robust, internationally aligned disclosures improve risk management practices, support more efficient capital allocation, and help attract Canadian and foreign investments.

Climate disclosure standards are a critical element of the development of a global sustainable finance market. In keeping with Budget 2025’s commitment, the government will continue to work with provinces and territories to improve the adoption of international climate disclosure standards across the economy. The government will have more to share in the coming months on this work.

Quotes

“As the global economy transitions to net-zero, clear and comparable climate information is more important than ever. This new investment in the International Sustainability Standards Board demonstrates our commitment to advancing globally aligned climate disclosures in Canada and abroad. The continued presence of the ISSB in Montréal solidifies Canada’s leadership in sustainable finance and highlights our strong ecosystem and successful track record of hosting leading international institutions.”

- Ryan Turnbull, Parliamentary Secretary to the Minister of Finance and National Revenue

Quick facts

  • The ISSB was established by the International Financial Reporting Standards Foundation in November 2021 to develop global sustainability-related disclosure standards. As of May 2026, 40 jurisdictions have adopted, or announced steps toward adopting, ISSB standards or requirements. 

  • The ISSB operates a multi‑location model, with major offices in Frankfurt and Montréal. The Montréal office leads the ISSB’s operational presence in the Americas and helps ensure regional perspectives and needs are reflected in its work.

  • Budget 2022 allocated $8 million for the start-up costs of the ISSB Montréal office. 

  • Budget 2025 reconfirmed the government’s support for the arm’s length development of made-in-Canada sustainable investment guidelines (also known as a taxonomy) by the end of 2026. These investment guidelines will become an important, voluntary tool for investors, lenders, and other stakeholders navigating the global race to net-zero, by credibly identifying “green” and “transition” investments. 

Associated links

Contacts

Media may contact:

John Fragos
Press Secretary
Office of the Minister of Finance and National Revenue
John.Fragos@fin.gc.ca


Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000

General enquiries

Phone: 1-833-712-2292
TTY: 613-369-3230
E-mail: financepublic-financepublique@fin.gc.ca

Stay Connected

Page details

2026-06-05