ICC News

28 October 2020 International experts from the banking industry came together to discuss key topics affecting the trade finance industry this week at the Annual Technical Meeting of ICC’s Banking Commission. International experts from the banking industry came together to discuss key topics affecting the trade finance industry this week at the Annual Technical Meeting of ICC’s Banking Commission. Here are five highlights from the day: Digitalisation of trade finance With COVID-19 further exposing the fragility of global trade’s reliance on paper documentation, ICC has been reinforcing its efforts to drive harmonisation of digital processes for trade flows – including directly

27 October 2020 The International Chamber of Commerce (ICC) has launched the Private Sector for Refugees (PS4R) web portal to showcase public-private sector collaborations that integrate refugees into the global economy. In collaboration with the European Investment Bank, Danish Industri, the World Bank Group, and the United Nations Refugee Agency, the PS4R web portal will share global lessons on the role of the private sector in supporting the economic integration of refugees. The web portal will share initiatives and-experiences by civil society, companies, business associations, as well as national and international development institutions on the role of the private sector in

26 October 2020 ICC – the institutional representative of 45 million companies – has welcomed today’s announcement by newly elected Japanese Prime Minister Yoshihide Suga, committing Japan to achieving net zero emissions by 2050. Commenting on the announcement, ICC Secretary General John W.H. Denton AO said: “I commend Prime Minister Suga for this concrete commitment to meeting the goals of the Paris Agreement. As the third largest economy and the fifth largest emitter of CO2, this announcement, just weeks ahead of the fifth anniversary of the Paris Agreement and the 2020 G20 Leaders Summit, represents a remarkable show of leadership at

8 October 2020 The International Court of Arbitration of the International Chamber of Commerce has unveiled revised Rules of Arbitration due to enter into force in January 2021. The 2021 ICC Arbitration Rules mark another step towards even more efficient, flexible and transparent ICC Arbitrations offering. The ICC International Court of Arbitration is the most preferred arbitral institution worldwide. The ICC Rules of Arbitration offer the greatest deference to party autonomy – by allowing parties of an Arbitration the opportunity to select the arbitral tribunal – and offer a high level of flexibility, by accommodating any procedural option chosen by the litigants that

8 October 2020 ICC, ITUC and Global Citizen call for an updated G20 Action Plan to address the barriers that sovereign debt burdens present toward pandemic containment and economic stabilisation. In an open letter issued today, the International Chamber of Commerce (ICC), the institutional representative of over 45 million businesses, the International Trade Union Confederation (ITUC), the global voice of the world’s working people, and Global Citizen, a movement of engaged citizens who use their collective voice to end extreme poverty by 2030, have urged G20 Finance Ministers to be bold in updating their Action Plan at next week’s meeting. The

6 October 2020 In an open letter to G20 tourism ministers, ICC Secretary General John W.H. Denton AO has said Covid-free travel can be achieved through a balance of right policy settings, technological tools and industry buy-in. Addressing ministers ahead of their 7 October meeting as part of the Sherpa Track for the G20 Leaders Summit 2020, Mr Denton’s letter underscores the need to re-open international travel while credibly addressing fears of infection and resurgence. Writing on behalf of 45 million companies worldwide Mr Denton said that while immediate measures such as closing borders and testing upon arrival had been successful

30 September 2020 Genuine resilience in the recovery from Covid-19 will only be achieved if there is concerted action to reverse biodiversity loss, ICC Secretary John W.H. Denton AO has stated in a message to today’s United Nations Summit on Biodiversity. Underscoring that an inflection point had been reached in the relationship with the planet and its resources, Mr Denton asked Summit participants: “If now is not the time for us to act, when will it be?” As member states prepare to adopt a global biodiversity framework for the next decade, Mr Denton said today’s Summit presented an opportunity to signal commitment

30 September 2020 The World Tourism Organization of the United Nations (UNWTO), International Chamber of Commerce (ICC) and AOKpass have officially partnered to support coordinated global efforts to more safely and efficiently restart travel. Under the collaboration agreement, the partners will work closely to support the rebuilding of travel, tourism and related sectors, which have been profoundly devastated by the global pandemic. “Countries and workers reliant on tourism for jobs and economic survival have been hardest hit and conditions will only worsen without a safe and coordinated return to domestic and international tourism. Working with ICC and AOKpass, we are focused

29 September 2020 The International Chamber of Commerce’s (ICC) Institute of World Business Law is pleased to announce the launch of the 10th edition of the ICC Institute Prize. This award recognises the best in class legal work in commercial law, including arbitration. The ICC institute Prize awards €10,000 to an exceptional thesis with the aim to acknowledge and contribute to the understanding and process in the field. Nayla Comair-Obeid, Jury member of the ICC Executive Board said: “Since 1979, the ICC Institute of World Business Law has been a pillar for the dissemination of knowledge in the fields of international business law

28 September 2020 ICC Secretary General John W.H. Denton AO has outline three priorities for reviving the global economy as quickly and as safely as possible in the COVID-19 era. Speaking today at a conference jointly organised by ICC and the China Council for International Cooperation, Mr Denton underscored the imperative to keep markets open and enhance cooperation saying that getting the balance right could have huge dividends: “We cannot respond to COVID-19 based on fear, distrust and entrenched global isolationism. But rather we must build on creativity, connectivity and mutual benefit. That is how we achieve long-term gains for everyone, such