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.
