Former Vice President and Treasurer of the World Bank Jingdong Hua is set to join the board of the International Sustainability Standards Board (ISSB).
Recruitment of sustainable finance specialist completes ISSB leadership roster.
News follows the recruitment of three specialists from Europe.
ISSB prepares to address questions about reporting on climate risk.
At the World Bank, his responsibilities included green bond initiatives and sustainable finance capacity-building programmes. He also served as the Administrator of the World Bank Group Pension Fund.
Before joining the World Bank, he served as Vice President and Treasurer of the International Finance Corporation, where he led innovative bond issuances in several emerging markets. He has also previously served as Deputy Treasurer of the Asian Development Bank and has held positions at the United Nations Development Programme and the African Development Bank.
ISSB to ensure needs of emerging economies and smaller businesses are considered
Mr Hua will oversee the development and implementation of the ISSB’s strategies to support and include stakeholders in emerging and developing economies as well as small and medium-sized companies.
He said: “Sustainability is a defining issue for our generation. I am thrilled to join the ISSB and look forward to working with partner organisations and institutions to deliver capacity-building initiatives on sustainability disclosures both internationally and with particular focus on emerging and developing economies.”
His role will complement the continued leadership role of the ISSB’s other Vice-Chair Sue Lloyd, who oversees the overall organisation of the ISSB’s work and its technical staff as well as the connection between the ISSB and the International Accounting Standards Board to ensure the two boards’ requirements are complementary.
Jingdong Hua completes ISSB recruitment drive
Mr Hua joins the ISSB leadership team which also includes Vice-Chair Sue Lloyd and Chair Emmanuel Faber. The full complement of the ISSB is includes it Chair, Emmanuel Faber and its Members: Richard Barker, Jenny Bofinger-Schuster, Verity Chegar, Jeffrey Hales, Michael Jantzi, Hiroshi Komori, Bing Leng, Ndidi Nnoli-Edozien, Tae-Young Paik, Veronika Pountcheva, Elizabeth Seeger
The ISSB’s 14 members are drawn from a variety of professional backgrounds and countries to provide the balance of expertise required to develop a truly global baseline of sustainability disclosures for the capital markets. Mr Hua’s base will be the IFRS Foundation’s ISSB office in Montreal and he will join the ISSB from October 2022.
On August 1, the ISSB completed its merger with the Value Reporting Foundation, a voluntary standard-setting body that oversaw the Integrated Reporting Framework and Sustainable Accounting Standards Board.
The ISSB has now taken over the governance of these initiatives, and intends to integrate them with its work to design and implement a global baseline for sustainability-related reporting rules. This move itself follows the merger between the ISSB and the Climate Disclosure Standards Board (CDSB).