Trustees at 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.
Faber’s second term will start on 1 January 2025 and end on 31 December 2027, and has received the full support of the IFRS Foundation Monitoring Board, comprising capital market authorities and providing a formal link between the IFRS Foundation and public authorities.
Erkki Liikanen, chair of the IFRS Foundation Trustees, said: “Faber 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.”
According to the IFRS, the ISSB has become a globally recognised and respected standard-setter under Faber’s tenure, issuing the inaugural IFRS Sustainability Disclosure Standards IFRS S1 and IFRS S2 while securing endorsement for those standards from the International Organization of Securities Commissions (IOSCO).
IFRS also said that the ISSB has made welcome strides forward in reducing 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 Taskforce on Climate-related Financial Disclosures. Additionally, ISSB has engaged with other bodies and authorities in the sustainability standard-setting field to facilitate interoperability of the their Standards with other requirements and frameworks.
Faber added: “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.”