ICC News

18 September 2020 In a letter published in the Financial Times today, ICC Secretary General John W.H. Denton AO calls on G20 leaders to heed warnings over the real-world consequences of banks retreating from financing commodity traders. Already threatening the livelihoods of small businesses who rely on funding and work on narrow margins, the worrying trend says Mr Denton, “could be a precursor to a much broader shortfall in the supply of trade credit once demand returns to the global economy.” Earlier this year, ICC warned that trade financing gaps risk hampering a global recovery – impacting the survival chances of small

11 September 2020 ICC Albania Commission on Arbitration and ADR and other experts from its membership issues recommendations and comments on the new draft law on Arbitration published for public consultation. Please find below documents prepared by our working group: New Draft Law text - with tracked suggestions Additional Recommendations  

9 September 2020 The International Chamber of Commerce (ICC) and the Business for Peace Foundation are pleased to announce today the three winners of the 2020 Oslo Business for Peace Award. The International Chamber of Commerce (ICC) and the Business for Peace Foundation are pleased to announce today the three winners of the 2020 Oslo Business for Peace Award.  This year’s honourees are Marc Benioff, Founder, Chair and CEO of Salesforce, James Mwangi, Chairman and CEO of Equity Group Holdings and Felicitas “Joji” Bautista Pantoja, Co-Founder and CEO of Coffee for Peace. The Oslo Business for Peace Award is awarded annually to business leaders for their outstanding businessworthy accomplishments and to recognise efforts to foster

8 September 2020 ICC Secretary General John W.H. Denton AO today addressed a meeting of Finance Ministers, convened by the United Nations Deputy Secretary-General and the Finance Ministers of Canada and Jamaica. Reaffirming ICC’s solidarity with governments in the effort to protect lives and livelihoods in the context of the COVID-19 pandemic, Mr Denton highlighted the devastating effects of the pandemic on business and their associated concern with the debt sustainability of their respective governments. Speaking on behalf of 45 million companies worldwide during the High-Level Event on Financing for Development in the Era of COVID-19 and Beyond, Mr Denton said:

8 September 2020 ICC – renowned for its global standards that enable trillions of dollars of cross-border transactions each year – has announced the operational launch of a major new initiative to ensure the benefits of digital trade can be realised by everyone, everywhere. The ICC Digital Standards Initiative (DSI) will work towards the ambitious aim of establishing a globally harmonised, digitised trade environment – directly addressing disruptions experienced during the COVID-19 crisis as a result of the reliance of trade flows on paper documentation. Although the workplace implications of the pandemic have accelerated adoption of digital technologies, significant barriers remain

3 September 2020 The International Chamber of Commerce (ICC), the institutional representative of 45 million businesses worldwide, has announced the creation of a new Advisory Group on Trade Finance (ATF) – a cross-sectoral coalition of leaders in global trade. The ATF – co-chaired by Victor K. Fung, Chairman of the Fung Group, and Marcus Wallenberg, Chair of SEB – will work to inform policy reforms and interventions to prime the trade credit ecosystem to power a rapid economic recovery from COVID-19. Despite impressive early actions taken by commercial banks and public bodies in response to the initial phase of the crisis, reports suggest that

2 September 2020 Dubai Chamber of Commerce and Industry with the support of ICC’s World Chambers Federation (WCF) has released a report on the preparedness of chambers of commerce to adapt their services in the face of COVID-19. Chambers of commerce, like businesses and governments, are experiencing new challenges and opportunities in the age of COVID-19. In recognition of the vital role that chambers of commerce play in their business communities, Dubai Chamber, with the support of ICC WCF, has published Chambers New Norm: Adapting Business Needs Report to understand how COVID-19 is impacting chamber services. The findings, which are based on interviews conducted with chamber leaders from every continent, found that many chambers of commerce lacked

28 August 2020 The International Chamber of Commerce (ICC) and the World Travel & Tourism Council (WTTC) have published a set of recommendations for safely re-opening customer facing businesses in the age of COVID-19. The COVID-19 pandemic has caused widespread disruptions to global supply chains and businesses of all sizes. The Travel & Tourism sector has been particularly impacted by the current pandemic due to travel restrictions, declining traveller confidence and reduced consumer demand. In recognition of the challenges faced by the travel and tourism industry, ICC and WTTC have released a Quick Restart Guide for Employers to provide businesses with recommendations for

12 August 2020 With more and more businesses turning to online sales in the age of COVID-19, the International Chamber of Commerce (ICC) has published a set of model online business-to-consumer (B2C) conditions of sale, to be adapted by sellers for use on their consumer-facing websites. As a result of the economic and health consequences associated with COVID-19, goods are increasingly being sold online to consumers. At the same time, many businesses are shifting their operations virtually to comply with social distancing measures aimed at reducing the spread of the virus. This expansion of online sales and workspaces has led many

10 August 2020 The International Chamber of Commerce (ICC) and the International Organization for Migration (IOM) release employer guidance for measures to protect migrants during COVID-19. Watch our video on the importance of migrant workers. Migrant workers are a crucial part of the global workforce, accounting for 3.5% of the world’s population, according to IOM. Worldwide, micro-, small-, and medium-sized enterprises (MSMEs), rely upon migrant workers, including sectors providing essential commodities and services, as well as industries hard-hit by COVID-19. As the economic and human consequences of COVID-19 continue to shape local communities, businesses can play a decisive role in addressing