The trustees of the IFRS Foundation have announced that Emmanuel Faber will serve a second three-year term as chair of the International Sustainability Standards Board (ISSB), when his current term ends in December 2024, thus giving clarity to the market about stability and continuity of the ISSB’s leadership.

The early reappointment announcement reflects the trustees’ appreciation for the ISSB delivering requirements designed to create a truly global baseline of sustainability disclosures. Under Faber’s leadership, the ISSB will continue to engage with jurisdictions on regulatory adoption of its Standards, support companies implementing the Standards and other technical activities.

Faber’s second term will start on 1 January 2025 and end on 31 December 2027.

Under Faber’s tenure, the ISSB has become a globally recognised and respected standard-setter. Within its first two years, the ISSB has:

  • Formed a well-functioning, effective board that has issued the inaugural IFRS Sustainability Disclosure Standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures.
  • Reduced the ‘alphabet soup’ of sustainability disclosures by building on and incorporating standards and frameworks from the Value Reporting Foundation, the Climate Disclosure Standards Board and the Task Force on Climate-related Financial Disclosures (TCFD) into ISSB Standards.
  • Secured endorsement of its Standards by the International Organization of Securities Commissions (IOSCO) and published a roadmap for supporting jurisdictional adoption.
  • Consulted on the next focus areas for sustainability disclosures.
  • Developed a capacity building programme to support the application of ISSB Standards in the market, particularly in the global south.
  • Established advisory groups to facilitate structured engagement with all stakeholder groups.
  • Successfully engaged with other bodies and authorities in the sustainability standard-setting field to facilitate interoperability of the ISSB Standards with other requirements and frameworks.

The ISSB leadership also includes two vice-chairs. Sue Lloyd started in her role in March 2022 and has been instrumental in designing and launching the first ISSB Standards. Jingdong Hua commenced his role in October 2022 and leads the ISSB’s capacity building efforts and other initiatives supporting the implementation of the Standards. Their initial four-year terms continue into 2026.

Commenting on this, IFRS Foundation trustees chair, Erkki Liikanen, said: “Emmanuel and his strong leadership team have in the two years since we announced the creation of the ISSB delivered on all the commitments we set out at COP26 in Glasgow. The trustees are grateful for the significant progress and pleased to confirm there will be stability and continuity in the ISSB’s leadership to build on the ISSB’s success to date.”

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Faber concluded: “I am thrilled to continue leading the ISSB’s important work to meet investors’ demand for sustainability-related information. The ISSB’s achievements are the result of a strong, diverse and dedicated team of Vice-Chairs, board members and staff working effectively together with the support of our many partners and stakeholders.”