Emmanuel Faber, Chair of the International Sustainability Standards Board (ISSB), addressed the 2026 Beijing International Sustainability Conference, detailing a significant expansion of global reporting standards and a new initiative to streamline international trade through “passporting” disclosures.
Speaking to a delegation of regulators, investors, and finance ministers—including Director General Lin of China’s Ministry of Finance—Faber emphasised that sustainability reporting is no longer a niche ESG metric but a fundamental component of resilient market infrastructure.
A new focus on nature and biodiversity
Following a productive board week at the ISSB’s Beijing office, Faber announced that the board has formally decided to advance disclosures related to nature. These requirements will focus on nature-related risks and opportunities that provide financially material information to investors.
A key milestone was set for later this year: the ISSB plans to publish an exposure draft on nature disclosures at the Biodiversity COP in October. “There is a need for more precise disclosures when it comes to the requirements on nature-related topics,” Faber stated, noting that both regulators and investors are demanding clearer data on how environmental factors impact business model resilience.
Faber highlighted the rapid global uptake of ISSB Standards, noting that 42 jurisdictions have now committed to or are already using the framework—a number he expects to exceed 50 by next year. Recent adopters include Peru, Ethiopia, and Oman.
Addressing critics who suggest that sustainability has been overshadowed by geopolitics or AI, Faber argued the opposite. He contended that geopolitical shifts in supply chains, resource availability, and access to critical minerals have made sustainability disclosures more acute.
“ISSB Standards have never been about ESG,” Faber clarified. “We are building a comprehensive language that will help with the future-proofing of capital markets. Geopolitics is making these topics even more acute because it is about changing supply chains and access to water and critical minerals.”
Launching the “ISSB Passporting” initiative
To reduce the administrative burden on multinational firms, the ISSB has expanded its Jurisdictional Adopters Working Group to 40 members, including China. This group is spearheading a new initiative called “ISSB Passporting.”
The passporting model would allow foreign private issuers and subsidiaries of international companies to satisfy domestic reporting requirements using the original ISSB Standards. By creating a “seamless language,” the initiative aims to facilitate trade and foreign direct investment (FDI) by ensuring investors and preparers are using the same verified framework endorsed by IOSCO.
MDBs as catalysts for implementation
Faber concluded by praising the role of multilateral development banks (MDBs) in driving high-quality implementation, particularly in emerging economies. He specifically commended the Asian Infrastructure Investment Bank (AIIB) for publishing its second ISSB-aligned report this year.
The Chair noted that MDBs act as essential convening places, providing the budget support and technical expertise necessary for regulators in developing markets to adopt these global benchmarks. “This is an incredibly powerful example of how multilateral development banks can drive adoption,” Faber said, marking the shift from standard-setting to the quality application of those standards worldwide.
