Where does ICC stand on corporate responsibility?

Since its foundation in 1919, ICC has promoted an open international trade and investment system, based on multilaterally agreed rules and responsible business conduct.

In relation to this mission, ICC strongly encourages corporate responsibility initiatives by companies. ICC supports the notion that responsible, long-term oriented entrepreneurship is the driving force for sustainable economic development and for providing the managerial, technical, and financial resources needed to meet social and environmental challenges.

It is important to distinguish the respective roles of business and government in this respect. Governments’ role is to provide the basic national and international framework of laws and regulations for business operations. Business has the duty to abide by these laws and a responsibility to develop and implement management systems to ensure good corporate practice.

A commitment to responsible business conduct requires consensus and conviction within a company. Voluntary business principles have the advantage of responding to the cultural diversity that exists amongst enterprises and offering the flexibility to tailor solutions to particular circumstances. Voluntary approaches minimize competitive distortions, as well as transaction costs associated with regulatory compliance, and inspire many companies to go beyond the regulatory baseline.

There are thousands of multinational enterprises throughout the world and many firms that have international activities directly or indirectly through purchasing and contracting. Since these companies face widely differing conditions in the various countries in which they operate, business principles should be sufficiently flexible to reflect the diversity of firms as well as that of their suppliers and business partners. A "one-size-fits-all" approach is incompatible with the great diversity that exists within business.