The Joint Collaborative Team

From the ITU website:

"The Joint Collaborative Team on Video Coding is a group of video coding experts from ITU-T Study Group 16 (VCEG) and ISO/IEC JTC 1/SC 29/WG 11 (MPEG) created to develop a new generation video coding standard that will further reduce by 50% the data rate needed for high quality video coding, as compared to the current state-of-the-art AVC standard (ITU-T Rec. H.264 | ISO/IEC 14496-10). This new coding standardization initiative is being referred to as High Efficiency Video Coding (HEVC)."

To find out more:

Joint Collaborative Team on Video Coding