Geneva is to become the seat of the new International Climate Committee (ISSB). Federal councilor Uli Maurer presented the candidacy for the city of Rhne on Wednesday. In the future, the committee is to develop global standards for climate-related financial reporting for the economy.

Both the location and the establishment of the International Sustainability Standards Board (ISSB) are to be announced at the next international climate conference COP 26 November in Glasgow, Scotland, as the Federal Department for Finance (FDF) wrote on Wednesday.

Geneva has “global reach”

According to the FDF, Switzerland should be one of the world’s leading places for financial flows into sustainable activities. The candidacy of Geneva as the seat of the planned ISSB fits perfectly with this strategy. Due to its proximity to important international organizations and non-governmental organizations, the city has a global presence and is recognized worldwide as a free and neutral place of dialogue.

According to the FDF, Switzerland is also a reliable host country for such an institution. You have committed to taking ambitious climate protection measures to reduce greenhouse gas emissions by 50 percent by 2030 and to zero them by 2050.

TL, SDA