The Global Reporting Initiative Guidelines and External Assurance of Investment Bank Sustainability Reports: Effective Tools for Financial Sector Social Accountability?

Abstract

This chapter will examine the progression of financial sector social accountability since the late 1990s. In particular, it explores the role of the Global Reporting Initiative Financial Services Sector Supplement, as well as the external assurance of financial sector sustainability reports, in the evolution of investment bank social accountability. Specific attention is paid to the perceived effectiveness of the GRI guidelines and external assurance mechanisms to ensure the consistency and quality of environmental, social and governance disclosures across banks and hence whether these tools have enhanced investment bank social accountability to date.