While the German city will host the new International Sustainability Standards Board, which will create global standards for financial reporting and accounting practices related to climate change, a Montreal outpost will play a supporting role, responsible for “deeper cooperation with regional stakeholders.” Offices in San Francisco and London will provide technical support, and the ISSB may also set up shop in Beijing and Tokyo. (The Logic)

Talking point: The International Financial Reporting Standards Foundation announced the locations of the new board’s offices Wednesday at the United Nations’ COP26 in Glasgow. In July, The Logic was first to report that Canada was vying for the headquarters, with Finance Minister Chrystia Freeland’s support. “Montreal has deep roots in sustainable finance and its responsible-investment ecosystem is thriving,” Céline Clément, communications director for Montréal International, told The Logic at the time. Backers of the Canadian bid hoped hosting the board’s headquarters could help establish the country as a serious participant in the global effort to account for the impact of climate change on the economy.