Flattening or addressing complexity? The future role of GRI in light of the sustainability accounting (r)evolution

Design/methodology/approach – Building on Bourdieu (1983, 1992) and SEA studies, we adopt a critical and qualitative approach to theorize power dynamics in the sustainability reporting field. After identifying the main issues arising from the complexity of the sustainability reporting standards and practices according to SEA scholars, we connect them with Bourdieu’s (1992, 1983) field theory to discuss the future role of GRI. Purpose – This article discusses the evolution of sustainability reporting and the role of the Global Reporting Initiative (GRI) in relation to the social and environmental accounting (SEA) literature calling for a revolution in the standardization of sustainability reporting and the inherent complexities. We focus on the future role of GRI in light of the changes resulting from harmonization supported by the International Sustainability Standards Board and the European Financial Reporting Advisory Group’s draft European Sustainability Reporting Directive. Findings – Our findings suggest two distinct but intertwined roles that GRI could play in the future, namely power related and theoretical/technical, aimed at engendering revolutionary rather than evolutionary changes in sustainability reporting. Originality – Our reflections reclaim the SEA literature as central to identifying sustainability complexity, and Bourdieu’s (1983, 1992) notions of power as key to understanding the role of GRI in the sustainability field. Furthermore, the paper emphasizes the intersection of different critical concepts, including power, complexity, value, capital, and materiality. Practical implications – This study offers practical implications for GRI to strengthen its future role in sustainability reporting standardization. Social implications – The limited time available to mitigate the disastrous consequences of non-sustainable business on society and the environment calls for urgently addressing the complexities of sustainability accounting to foster a positive impact on society and the environment.