News in the spotlight: ISSB establishes office in Geneva
The IFRS Foundation has selected Geneva as the seat of the International Sustainability Standards Board (ISSB), with a new office scheduled to open in 2027.
Products and Services
Ircantec searches for manager for EUR 1.7bn green and social bond mandates
French public pension scheme Ircantec has launched a tender for three sustainable bond mandates worth a combined EUR 1.7 billion. The search covers two green bond portfolios and one social bond portfolio, with mandates to be managed actively and in line with Ircantec’s responsible-investment requirements. The largest mandate is a EUR 1 billion green bond portfolio focused on euro-denominated investment-grade corporate debt. The other two mandates are a EUR 500 million green bond portfolio and a EUR 200 million social bond portfolio, both investing in euro-denominated sovereign, supranational and agency bonds. Managers will be expected to integrate environmental, social and governance analysis into security selection, apply exclusions and manage the portfolios against specified sustainability criteria. Ircantec is also seeking evidence of strong engagement, reporting and impact measurement capabilities, reflecting the pension fund’s focus on measurable outcomes rather than labels alone.
Regulations, Law and Frameworks
IFRS Foundation approved ISSB´s 5-Year funding plan
The IFRS Foundation Trustees have approved a five-year operating and financing plan for both the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB), covering 2027–2031. The plan is intended to secure longer-term funding and align resources with the boards’ expanding global responsibilities. For the IASB, the Foundation will seek a more diversified funding base by working with jurisdictions, capital-market participants and licensees of IFRS intellectual property. The plan also allows the IASB to use accumulated reserves while a stable long-term funding model is established. ISSB funding is secured through 2031 from existing agreements, philanthropic contributions and earned revenue. As adoption of ISSB Standards matures, the Board will transition from seed funding to a durable long-term model. More than 45 jurisdictions are already using the standards, with companies in 18 jurisdictions expected to report under them by 2027.
ISSB establishes office in Geneva
The IFRS Foundation has selected Geneva as the seat of the International Sustainability Standards Board (ISSB), with a new office scheduled to open in 2027. The office will become the Board’s central base while preserving its existing multi-location structure in Beijing, Frankfurt, Montreal and Tokyo. The Geneva office will strengthen the ISSB’s global role in developing sustainability reporting standards for capital markets and expand its links with international organisations, financial institutions and other standard-setting bodies based in the city. Frankfurt will continue to serve as the ISSB’s hub for engagement with the European Union, while the other offices will retain their existing functions. The arrangement is intended to improve the Board’s ability to support adoption and implementation of its standards across jurisdictions. The decision also reinforces Geneva’s position as a centre for international standard-setting and sustainable finance. Switzerland’s federal authorities said the location builds on Geneva’s concentration of international organisations and expertise relevant to global financial reporting.
ESG Data and Analytics
Osapiens buys Nasdaq’s Metrio sustainability platform
osapiens has completed the acquisition of Nasdaq’s Metrio platform and customer base, expanding its US presence in AI-driven compliance, sustainability reporting and supply-chain intelligence. Financial terms were not disclosed. Metrio provides enterprise software for non-financial reporting and carbon accounting, with coverage of frameworks and requirements including California climate disclosure laws, CDP, GRI, IFRS and SASB. Its audit-grade data management is intended to help companies maintain reliable disclosures as regulations change. The platform and customers will be integrated into the osapiens HUB, where companies can collect data once and reuse it across reporting, carbon accounting, product compliance, supplier intelligence and traceability processes. osapiens says this will increase automation, reduce duplicate data collection, improve supplier response rates and lower the manual effort required to manage compliance and emissions information. The acquisition gives osapiens an established North American enterprise customer base and local market references.
Leadership Announcements
GIC appoints De Rui Wong as Head of Sustainability
Singapore’s sovereign wealth fund GIC has promoted De Rui Wong to Head of Sustainability, succeeding Emily Chew. The fund has not confirmed whether Chew remains at GIC. Wong previously served as Senior Vice President in GIC’s Sustainability Office. He joined the fund in 2010 as a vice president, left in 2017 to become a senior research analyst at Hong Kong-based alternative investment firm PAG, and returned to GIC in 2019. In announcing his appointment, Wong said he would build on the foundations established by Chew and Rachel Teo. He described climate change as a structural force affecting economies, industries and asset values, and said GIC’s role is to identify investment opportunities and manage related risks before they become losses. His priorities include investing in energy-transition opportunities that can generate returns across different policy environments, identifying investments in climate adaptation and resilience, and improving the management of physical climate risks across GIC’s existing portfolio.