ICC announced today that an updated version of its Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits (URR) will take effect on 1 October 2008.
To raise awareness of how companies can better counter corruption, ICC is publishing today “Clean Business Is Good Business: The Business Case against Corruption”. ICC has teamed up with Transparency International, the United Nations Global Compact, and the World Economic Forum Partnering Against Corruption Initiative in the publication of this invaluable guide.
From Southern Canterbury to Dosquebradas, from Fribourg to Red Deer, ICC World Chambers Federation (WCF) showcased chamber programmes from France and afar at the third meeting of France’s leading local and regional chambers (CCIPRO), on 3-4 July.
The most current piracy statistics and analysis released by the International Maritime Bureau (IMB) Piracy Reporting Centre (PRC) indicates a recent spike of incidents, largely attributable to increased piracy activity off the Somali Coast, particularly in the Gulf of Aden.
ICC today issued guidelines on whistleblowing, the first world business organization of its kind to establish a global standard for facilitating the setup of these programmes. “Fraud remains one of the most problematic issues for business worldwide, no matter the country of operation, industry sector, or size,” said Francois Vincke, Chair of ICC’s Anti-Corruption Commission. “While whistleblowing programs are a highly effective way to flag fraud early on, many companies do not have these schemes in place due to cultural or legal differences. ICC’s guide is the first set of practical tools that takes these factors into account, no matter the jurisdiction.” According to a 2007 study by consultancy KPMG, 25% of the incidents of fraud uncovered among 360 incidents analyzed came to light thanks to a whistleblowing system put into place by companies. Nevertheless, internal fraud reporting systems are not widespread throughout the world. An Ernst & Young survey of 13 European countries in 2007 showed only 33% of the company respondents said they had a hot line for employees to report incidents of possible fraud.
ICC welcomed a historic statement by the G8 group of industrial nations today to halve greenhouse gas emissions by 2050, and calling on all major economies to commit to meaningful mitigation actions in the international agreement to be negotiated by the end of next year.
As financial turbulence reaches unprecedented levels worldwide amid the recent credit crunch, ICC’s Commission on Financial Services and Insurance (FSI) recently conducted breakthrough research into the future shape of financial markets.
The ICC International Maritime Bureau (IMB) welcomes the recent UN Security Council Resolution calling upon naval units in the Horn of Africa to provide assistance to vessels attacked by pirates and forced into Somali territorial waters.
ICC participated in hearings on the review of the Monterrey Consensus on Financing for Development on 18 June at the UN headquarters in New York.
The 2008 Commercial Crime Services (CCS) Annual Economic Crime Lecture, held 19 June in London, addressed the complex issue of corporate corruption.
In recognition of the growing presence and clout of Asian businesswomen, the Vietnam Chamber of Commerce and Industry (VCCI) hosted the 18th Women’s Global Summit in Hanoi from 5 to 7 June.
Maximizing the economic potential of the Internet and information and communication technologies will require not only investment in infrastructure but also policy reform, Subramaniam Ramadorai, Chair of ICC’s initiative, Business Action to Support the Information Society (BASIS), said today during an OECD Ministerial Meeting on the future of the Internet economy.
Prime Minister Yasuo Fukuda of Japan, who will host the G8 Summit in Hokkaido Toyako, Japan on 7-9 July , today received the Vice-Chairman of ICC, the Hong Kong businessman Victor Fung.
As policymakers from over 40 countries gathered here at an OECD Ministerial summit to discuss the trailblazing impact of the Internet and information and communications technologies (ICTs) on the economy and society, ICC shared global business views and provided guidance on digital convergence.
ICC peered into the future of carbon trading here during the UN Framework Convention on Climate Change (UNFCCC) meeting of Subsidiary Bodies.
On a day when the world’s attention turned east to the Euro Cup, some thoughts turned west at an important meeting in Stockholm, where two cities from the Americas faced off to host the World Chambers Federation Congress in 2011.
The most important multilateral negotiations with wide-ranging impact on the world economy are going on simultaneously: to agree on a global framework to address climate change, and the Doha Round of multilateral trade talks. To explore the links between these interrelated issues, trade and climate change, ICC hosted a side event at the UN Framework Convention on Climate Change (UNFCCC) last week in Bonn.
It was standing room only at the ICC side event Friday on sectoral approaches to climate change, held during the meeting of subsidiary bodies of the UN Framework Convention on Climate Change (UNFCCC). And those who couldn’t, watched - on UNFCC’s webcast.
The International Chamber of Commerce lauded a recently-released UN report, saying it offers a well-designed framework of principles for business responsibility on human rights.
Special Representative of the UN Secretary-General on business and human rights, professor John Ruggie, presented last week his final report to the UN Human Rights Council during its 8th Session in Geneva from 2 to 18 June.
ICC welcomed the outcome of the ninth meeting of the Parties on the Convention on Biological Diversity (CBD) as a great step forward in addressing key matters, such as access and benefits sharing (ABS) and agricultural biodiversity.