Emmanuel Faber was appointed chair of the Worldwide Sustainability Requirements Board by the IFRS Basis, efficient Jan. 1, 2022.
His appointment follows the announcement made on the 2021 United Nations Local weather Change Convention (COP26) in November of the creation of the ISSB as a consolidation of the Local weather Disclosure Requirements Board and the Worth Reporting Basis into the IFRS Basis.
A former chair of the board and CEO at Danone, Faber has championed the significance of sustainability info to traders and led the meals firm so as to add improvements to assist traders and credit score suppliers higher perceive sustainability components in assessing enterprise worth.
Emmanuel Faber
The ISSB will develop IFRS Sustainability Disclosure Requirements as a worldwide baseline of disclosure necessities to present traders high-quality, globally comparable sustainability info, and can work intently with the IASB to make sure compatibility with IFRS Accounting Requirements and IFRS Sustainability Disclosure Requirements.
“Emmanuel Faber has been a long-term proponent of corporations factoring sustainability issues into their technique and of their reporting to the markets,” mentioned IFRS Basis Trustees chair Erkki Liikanen in a press release. “His international management expertise and drive make him the perfect inaugural ISSB Chair to steer the event of requirements to satisfy traders’ demand for details about local weather and different sustainability issues.”
Faber has lived and held senior management positions throughout 4 continents and based and chairs a number of worldwide organizations and initiatives, together with the One Planet Enterprise for Biodiversity coalition and the G7 Enterprise for Inclusive Development coalition.
“Traders are demanding prime quality, globally comparable sustainability info on which to make knowledgeable funding choices. The ISSB represents a once-in-a-generation alternative to satisfy that want in a fast-changing world, the place local weather particularly will drive main shifts within the coming years,” mentioned Faber in a press release. “We should always transfer diligently and construct on the good momentum ensuing from the formation of the ISSB at COP26. I’m excited concerning the alternative to work with stakeholders internationally in growing ESG requirements that inform international capital allocations, market costs and value of capital, working alongside the IASB.”
The trustees will quickly be calling for nominations for remaining ISSB members, with a objective of reaching variety in illustration and professionalism expertise, and can announce vice chair and senior employees member appointments.
“Congratulations to Emmanuel on his appointment. I look ahead to working intently with him and his board to serve the data wants of traders,” mentioned IASB chair Andreas Barckow in a press release. “The appointment of Faber, which is for an preliminary three-year time period, is supported by the IFRS Basis Monitoring Board, which oversees numerous facets of the governance of the IFRS Basis.”
“I congratulate Mr. Faber on his appointment to the ISSB,” acknowledged Eelco van der Enden, who will begin in publish because the World Reporting Initiative CEO Jan. 1. “It is rather encouraging that an influential and well-known voice of enterprise will likely be main the work of the IFRS to develop these investor-focused sustainability requirements. As he has beforehand demonstrated, Mr. Faber has a eager curiosity in each monetary and sustainability reporting. It is very important acknowledge that, for reporting to light up the total vary of impacts that corporations have on society and the planet, it must take account of a large number of stakeholders. As such, I’m certain Mr. Faber will likely be as eager to have interaction with GRI as I’m to have interaction with the ISSB. As we each take up our posts within the new yr, I very a lot look ahead to alternatives for us to work collectively.”