NIST is the National Institute of Standards and Technology. They were selected for the task of developing the NIST Cyber Security Framework (CSF) because they are a non-regulatory federal agency. They act as an unbiased source of scientific data and practices, including cybersecurity practices.
The framework was the result of a US executive order in 2013. By 2014 it was adopted globally, partly due to global organisations having a U.S. Headquarters and being U.S. owned organisations such as Google, Amazon/AWS, Paypal and Morgan Stanley.