ICC News

29 December 2020 In a year that put to the test ICC’s ability to mobilise business behind global challenges, our pioneering spirit shone through to ensure our global institution lived up to its reputation as the trusted voice of business on issues facing people and planet. We’re taking a look back at our ground-breaking year to wrap up just 10 ways in which we made business work for everyone, every day, everywhere. Saving lives and livelihoods – ICC acts against Covid-19 Before Covid-19 had a name, ICC Secretary General John W.H. Denton AO responded to the outbreak of coronavirus in China underscoring the

29 December 2020 Ahead of the entry into force of the 2021 ICC Arbitration Rules, the International Court of Arbitration of the International Chamber of Commerce has released updates to its Note to Parties and Arbitral Tribunals on the Conduct of Arbitration under the ICC Rules of Arbitration, effective 1 January 2021. Last updated in 2019, the Note provides parties and arbitral tribunals with practical guidance concerning the conduct of arbitrations under the ICC Rules and summarises the practices of the ICC Court. The updates were discussed by the Bureau of the ICC Court, further to proposals made by ICC Court President Alexis

10 December 2020 ICC has launched a working paper outlining how changes to the application of competition law could accelerate corporate action to fight climate change. Issued on the eve of the fifth anniversary of the landmark Paris Agreement, the paper highlights how competition law – and, more specifically, the fear of unnecessarily restrictive antitrust enforcement – currently inhibits companies from working together to reduce their carbon footprints. There are signs that many businesses are eager to partner on sustainability efforts – recognising that  co-operation is vital to achieve meaningful scale in addressing climate change and other environmental challenges. However, a

10 December 2020 ICC’s Business Action to Stop Counterfeiting and Piracy (BASCAP) initiative has released a 2020 update of its 2013 publication examining the balance of facilitation and control required to combat illicit trade in Free Trade Zones. Paris, 10 December 2020 The updated paper Controlling the zone: Balancing facilitation and control to combat illicit trade in the world’s Free Trade Zones sheds light on the trends of counterfeiting and other forms of illicit trade facilitated through free trade zones (FTZs). Specifically, the report addresses how criminals use transit or transhipment of goods, through multiple, geographically diverse FTZs for no other purpose than

10 December 2020 The SME Climate Hub has joined forces with Oxford University to provide small- and medium-sized enterprises (SMEs) with tools and resources to help them take climate action. Ahead of the 5th anniversary of the Paris Agreement signing, the freely available tools and resources are specially selected for SMEs to reduce carbon emissions, build business resilience and gain a competitive advantage, and help them achieve the Paris Agreement goals. As the world reflects on progress on climate action since the Paris Agreement signing, it is clear that action by SMEs is an essential part of accelerating the transition to

9 December 2020 In a memo to World Trade Organization Members, ICC has called on negotiators to accelerate progress and conclude a high standard agreement by the next WTO Ministerial Conference. There are now 86 World Trade Organization (WTO) Members negotiating the JSI, representing well over 90% of world trade. Citing the indispensable role of the digital economy during COVID-19, the memo says: “As communities have socially distanced to flatten the curve, contactless payments have enabled safe, COVID-free transactions; brick-and-mortar retailers have rapidly moved to sell their wares online, powered by a vibrant ecosystem of software as a service providers; citizens

8 December 2020 ICC’s Ibero-American national committees in 13 countries have joined forces to mark International Anti-Corruption Day, underscoring the importance of the anti-corruption agenda as a key means of promoting social inclusion and economic growth in the region in the context of the current pandemic. Celebrated on 9 December each year, Anti-Corruption Day aims to raise awareness of corruption and of the role of the 2005 United Nations Convention Against Corruption in combating and preventing it. ICC national committees of the ICC in Latin America acknowledge the role the current pandemic has played in exacerbating the risks of corruption, bribery, fraud, illegal

8 December 2020 ICC and Oxford University’s Saïd Business School will join forces to develop a set of all-encompassing artificial intelligence (AI) principles to enable business to implement innovative, trustworthy, and human-centric AI solutions as part of their operations. Over the years, policy and regulatory discussions concerning AI have focused on sector-specific or issue-specific issues without considering wider ethical, societal, or business implications. As part of this partnership, researchers from ICC’s Knowledge Solutions department and Saïd Business School will undergo an extensive review of existing AI principles to identify commonalities and differences between standards. ICC and Saïd Business School will gather

3 December 2020 The International Chamber of Commerce (ICC) Global Export Finance Committee’s Sustainability Working Group (ICC-SWG) has commissioned International Financial Consulting Ltd. and Acre Impact Capital to develop a white paper, to be published in June 2021. The paper will review the state of sustainable finance across the export finance industry and propose both product and policy recommendations aimed at increasing the flow of export financing towards sustainable activity. Sustainability is an increasingly important topic for a wide range of public and private stakeholders globally, both in the developed and emerging markets. This seminal project, convened by the ICC Global

1 December 2020 The International Chamber of Commerce (ICC) publishes its submission to the European Commission’s Consultation on Trade Policy Review. Launched in June 2020, the European Commission’s Consultation on Trade Policy Review is an all-encompassing examination of the European Union’s (EU) trade policy settings. The consultation’s objective is to build consensus around EU Trade policy, especially in the wake of the COVID-19 pandemic and other trade-related challenges. The Commission has sought public consultation from the European Parliament, Member States, stakeholders, and civil society. As the largest trading bloc in the world, the EU’s trade policy creates rules and standards that