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CalSTRS sustainability head named ISSB board chair, directors include Chinese finance ministry rep

The IFRS Foundation names four inaugural members of the global sustainability standards group.

Accounting standards body IFRS Foundation announced Wednesday the four inaugural members of the International Sustainability Standards Board (ISSB), the global sustainability standards group it launched in November to develop “a global baseline” sustainability disclosure regime for corporations. 

The quartet includes Verity Chegar, the former BlackRock director of ESG integration who joined CalSTRS in 2021 to lead the Californian public pension giant’s policy engagement on sustainable investment and stewardship. She is also currently co-vice-chair of the board of sustainability accounting standards body SASB.  

Chegar will be joined on the ISSB board by Bing Leng, a director in the accounting regulatory department of the Chinese Ministry of Finance, where he oversees sustainability reporting initiatives; Richard Barker, professor of accounting at the University of Oxford’s Saïd Business School, where he leads sustainable business initiatives; and Ndidi Nnoli-Edozien, a sustainable development specialist who most recently served as group chief sustainability and governance officer of Dangote Industries, one of Africa’s largest manufacturing businesses. 

China’s Ministry of Finance is also represented in a working group made up of global regulators and policymakers launched by the ISSB in April to look at harmonising corporate reporting frameworks under development in different jurisdictions. 

Emmanuel Faber, former CEO of Danone and chair of the ISSB, welcomed the four members, who he said “all have a passion for sustainability and reporting and will help get the ISSB off to a great start as we prepare to discuss the feedback received to our current consultation”. 

The ISSB opened a consultation on its first climate and sustainability standards in March with a closing date of 29 July. 

All four appointees will take up their new full-time roles from next month. The IFRS Foundation said it would name the remaining four members of the ISSB during the third quarter of 2022.  

The ISSB’s first public board meeting will be held at the body’s Frankfurt offices during the week commencing 18 July.