Written by 17:37 International, International, Sustainable Finance, TOP-NEWS

Montréal, Canada

In 2023, the financial centers Finance Montréal and Frankfurt Main Finance signed a Memorandum of Understanding to foster common interests and develop further collaboration.

The goal of this agreement is to support the International Sustainability Standards Board (ISSB) in creating a global baseline in sustainability reporting. The focus hereby is on raising awareness for the preservation of biodiversity, climate change and human capital. For the benefit of both the Montréal and the Frankfurt financial ecosystems, expertise, content and learning will be exchanged.

Their collaboration aims at helping local members of their financial ecosystems understand the new standards and providing them with the tools to better integrate them into their reporting. Since the two financial centres are host cities of the ISSB’s offices, they aim to foster the networking of tech start-ups focused on sustainability to encourage innovation and collaboration. The overall objective is to work together in good faith to develop the future of finance in and across America and Europe. 

Finance Montréal is Québec’s financial cluster and was founded in 2010 by financial sector stakeholders.  With its International Financial Center team, Finance Montréal works to attract foreign financial companies to Montreal. The organization also focuses on fintech and innovation, sustainable finance, and talent development. As a hub for the financial community, Finance Montréal mobilizes its stakeholders around these areas, including the community built around the Montréal FinTech Station that it administers. 

Montréal – where old meets new 

The major cultural and economic center, Montréal, combines the old with the new world. The French charm and the easygoing Canadian way of life present the unique combination of Montréal’s character and make it a popular tourist spot. Being the second most populous city in Canada and the capital of Québec, Montréal has the largest francophone population after Paris. The city was built near the mountain Mont Royal, from which the name Montréal is derived. The architecture in Montréal is diverse, from the Biodome and the Biosphere to the underground city, 30 km of an underground system with a shopping center and the metro system, and Old Montréal, a very French influenced district. Considering the influence of the architecture on the nature, the people of Montréal decided that every building must be smaller than the cross on Mont Royal in order to preserve the natural views. 

A city striving for sustainability 

Sustainability plays a big role in Montréal, which is the reason why the city has been recognized for its efforts and commitment and has been ranked first for its performance in rendering tourism more sustainable. The city has been named the most sustainable destination in North America as to the Global Destinations Sustainability Index 2022. An example of “recycled” buildings in Montréal is the Biodome, which was previously built in course of the Olympic Games and is now home to four different ecosystems and around 4,500 animals. Another showpiece in terms of sustainable building use is the Biosphere, which was built as the American pavilion in the Expo 67 and is now used as environmental museum. 

Author: Carina Ullrich
Image sources: Unsplash, Pixabay

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