ISSB Opens New Beijing Office

Following the signing of a memorandum of understanding between the IFRS Foundation and China’s Ministry of Finance in December 2022, the International Sustainability Standards Board (ISSB) has opened a new office in Beijing. The IFRS Foundation announced the creation of the ISSB at COP26 in November 2021, accompanied by plans to give it a “global footprint” through operation from offices in Beijing, Frankfurt, Montreal and San Francisco in addition to its offices in London and Tokyo. Beijing’s Vice Mayor Linmao Xia reaffirmed that the government will actively support the promotion and application of the IFRS Sustainability Disclosure Standards in China. At the Beijing office, staff will focus on leading and executing the ISSB’s strategy for emerging and developing economies, acting as a hub for stakeholder engagement in Asia, and facilitating deeper cooperation and engagement with stakeholders. It will also undertake capacity building activities for emerging economies, developing countries and SMEs. Zhongming Zhu, China’s Vice Minister of Finance, said: “We are excited to welcome the IFRS Foundation and the ISSB to Beijing and look forward to supporting the development of the office into a hub for engagement, cooperation, capacity building and innovation.” The Beijing office will host the first meeting of the ISSB in China in November, coinciding with the IFRS Foundation’s first sustainability-focused conference in China. 

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