The Bank of England has called for an extension of pay gap reporting to cover ethnicity, and has suggested that central banks should "lead by example" by disclosing their own pay gaps.
Currently, just a handful of countries require companies to publish their gender and ethnicity pay gaps, according to the UK central bank's latest working paper, Understanding Pay Gaps. It says there is a strong case for an internationally harmonised reporting system to “allow cross-country as well as cross-company comparison”. This could cover information around pay gaps, but also data that monitors broader progress.
A comparable data set among peers and countries would encourage accountability, the authors say, pointing to the growth of transparency and competition on climate change as a result of the Taskforce on Climate-related F