• IFRS Foundation Trustees approved a five-year operating and financing plan covering both the IASB and ISSB through 2031.
• The ISSB will open a Geneva office in 2027 as its new seat, expanding its global operating model alongside Beijing, Frankfurt, Montreal and Tokyo.
• Proposed constitutional changes would reduce both standard-setting boards to 10 members each from 2028, while maintaining geographic and professional diversity.

The IFRS Foundation has approved a five-year operating and financing plan designed to strengthen the long-term funding of its global accounting and sustainability standards.

The Trustees also confirmed that Geneva will become the seat of the International Sustainability Standards Board. A new office will open there during 2027.

The decisions come as use of the ISSB’s sustainability disclosure standards expands across global markets. More than 45 jurisdictions are already using the standards. By 2027, companies in 18 jurisdictions are expected to be issuing reports under the framework.

IFRS Foundation targets more durable funding

The five-year plan separates projected funding and resource requirements for the International Accounting Standards Board and the ISSB.

For the IASB, the Foundation plans to diversify its funding base as IFRS Accounting Standards become more deeply embedded across global capital markets.

The Foundation will continue seeking contributions from jurisdictions that have adopted the standards. It will also pursue more funding from capital market participants that benefit from IFRS Standards.

Licensing revenue from IASB intellectual property will provide another source of funding.

The Trustees framed the approach around shared responsibility. Market participants that rely on IFRS Standards as financial infrastructure are expected to contribute to their continued development.

The IASB will retain its primarily single-location operating model. Accumulated reserves may be used in the short term while a more stable funding structure is established.

IFRS Foundation Trustee Chair Erkki Liikanen said: “Our five-year operating and financing plan helps ensure the IFRS Foundation and its boards are equipped to deliver high-quality Standards critical to global capital markets. On behalf of the Trustees, I extend my thanks to all those, current and future, who fund the important work of the IASB and the ISSB.”

Geneva becomes new seat of ISSB

The financing plan also provides a pathway for resourcing the ISSB through 2031.

The board has relied heavily on seed funding since its creation in 2021. That support helped establish operations across several locations and build implementation capacity as jurisdictions began adopting its standards.

The ISSB currently has a presence in Beijing, Frankfurt, Montreal and Tokyo. Geneva will now join that network and serve as its official seat.

Frankfurt will remain the hub for engagement with the European Union.

Liikanen said: “In addition, I thank our funders—including those in Beijing, Frankfurt, Montreal and Tokyo—for supporting the ISSB as its journey began. Furthermore, we deeply appreciate the trust and support, including from philanthropies, for this next phase, as well as Swiss and Geneva authorities and private donors, as we establish a new office in Geneva as the seat of the ISSB.”

ISSB Chair Emmanuel Faber said Geneva’s role in sustainable finance and international cooperation made it a natural base for the board. “I am thrilled that Switzerland, through our new Geneva office, is joining our global network. As a major international hub for sustainable finance and a unique centre for multilateral cooperation, Geneva is a natural ecosystem for our work.”

He added: “Access to resources and supply chains is being challenged amid rising geopolitical uncertainties, climate events and other emerging sustainability-related risks and opportunities. Now more than ever, capital markets need a global language for companies to communicate their resilience to investors. My sincere thanks to all those who make this work possible through their ongoing support.”

Governance changes move to consultation

The Trustees have also proposed targeted amendments to the IFRS Foundation Constitution. The consultation runs until 16 November 2026.

The amendments would formalise an earlier decision to gradually reduce the size of both boards. Each is expected to have 10 members from 2028.

The Foundation said geographic balance and diversity of professional experience, skills and perspectives will remain priorities.

The changes coincide with a leadership transition. Steven Maijoor will become the next Chair of the IFRS Foundation Trustees. Sam Woods will chair the IASB, while Laura Forzani will become Managing Director of the Foundation.

For companies and investors, the five-year plan provides greater visibility over the institutional infrastructure behind global financial and sustainability reporting. As ISSB adoption spreads, stable funding and governance will become increasingly important to maintaining consistency across markets.

The Geneva expansion also places the ISSB closer to a major centre for sustainable finance and multilateral policymaking. That position could become more important as investors demand comparable information on climate, supply-chain and broader sustainability risks across jurisdictions.