It appears there are workarounds, but I'm not sure how that's better than doing things Ye Olde Waye.
Of course you could just put `aria-label="edit"` on its container the same way you would an SVG.
The icon font is also a problem if the font doesn't load and the browser uses a fallback, now you have a weird "E" in the middle of your document. They're harder to get aligned just right in my experience as well.
Someone's probably done this already but it would be cool to have an icon font that uses ligatures- so you'd type "Edit" and it would turn into the Edit icon. Wouldn't solve the other issues but it would be neat.
https://fontawesome.com/docs/web/dig-deeper/webfont-vs-svg
One of the key notes in the bottom table on that page is "Auto-Accessibility" and the JS libraries with SVG icons provide better accessibility out of the box. Most of the document you linked is stuff you need to do manually by default when working with web fonts.