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, the trustees of the IFRS Foundation have announced.

The chair of the trustees, 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.”

He added that the trustees were “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”.

Since the decision to launch the ISSB, the board has developed and issued two new sustainability reporting standards aimed at setting a so-called minimum global baseline in sustainability reporting.

The two standards, IFRS S-1 and S-2, deal with general requirements for sustainability disclosures and climate-related disclosures, respectively. In July, they were formally endorsed by IOSCO, the global body for securities regulators.

Since releasing those standards the ISSB has launched a formal consultation on its future agenda priorities and is currently considering the feedback from constituents on that exercise.

Meanwhile, in a series of pre-prepared remarks timed to coincide with COP28, Liikanen committed the IFRS Foundation “to work closely with both IOSCO and the Financial Stability Board who play essential roles in the adoption work”.

He said the Foundation looked forward to “jointly developing aligned workstreams with IOSCO, in anticipation of the 2024 IOSCO Annual Conference in Athens”.

The statement announcing Faber’s early reappointment as ISSB chair also explained that the ISSB “will continue to engage with jurisdictions on regulatory adoption of its standards, support companies implementing the standards, and undertake other technical activities”.

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

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