Icc New Rules 2023, Combating Corruption ?
ICC New Rules on Combating Corruption
If there have been new rules or developments related to combating corruption by the ICC, you can find the latest information on their official website or through reputable news sources. Keep in mind that developments in regulations and rules can occur, and staying updated with the latest information is essential for accurate understanding.
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The ICC’s 2023 Rules on Combating Corruption, launched on December 11, represent a significant update to the 2011 edition. Positioned as a flagship tool for promoting business integrity globally, these rules align with contemporary standards and corporate practices. Developed under the guidance of the ICC Global Commission on Anti-corruption and Corporate Responsibility, they were unveiled by ICC Chair Maria Fernanda Garza at the commencement of the UN Conference of the States Parties to UN CAC in Atlanta.
The 10th Conference of States Parties, known as CoSP 10, coincides with the 20th anniversary of the UN Convention against Corruption. It serves as a platform to assess achievements and explore ways to strengthen the implementation of this legally binding instrument.
Viviane Schiavi, ICC Global Policy Lead on Anti-corruption and Corporate Responsibility, provided insights into the new rules and discussed the role that businesses can play in the fight against corruption in anticipation of their release.
What changed:
The 2023 ICC Rules on Combating Corruption introduce enhanced provisions, emphasizing reporting mechanisms crucial for uncovering and deterring wrongdoing. Notably, the updated rules strengthen the section on engaging and managing Third Parties, recognizing them as potential weak links in the supply chain. A noteworthy addition is the call for the promotion of Responsible Business Conduct, marking the first time the ICC’s rules emphasize the role of enterprises in making positive contributions to sustainable development and addressing adverse impacts associated with their operations.
What steps can businesses take to stamp out corruption?
The initial step involves companies establishing a comprehensive code of conduct or company rules explicitly prohibiting corrupt practices in all situations and forms. This encompasses Commercial or Public Bribery, Extortion or Solicitation, Trading in Influence, and Laundering the proceeds of such practices. This prohibition extends to both direct engagement and indirect involvement through Third Parties.
To take a proactive and constructive approach, businesses should develop compliance programs tailored to their specific business activities. These programs should be based on thorough risk assessments to identify, manage, and address integrity concerns. Elements of the compliance program can include guidance on political and charitable contributions, conflicts of interest, and considerations related to gifts and hospitality.
What is ICC’s role in influencing global anti-corruption efforts?
ICC has consistently emphasized the vital role of enterprises adhering to self-imposed rules, while acknowledging the fundamental responsibilities of international organizations and national governments in combatting corruption and promoting responsible business conduct. Pioneering anti-corruption efforts, ICC issued its first set of rules in 1977, the ICC Rules to Combat Extortion and Bribery. Over time, ICC has expanded its suite of practical rules and guidelines for responsible business conduct, all developed by and for businesses. The organization contends that a system free from corruption is essential to ensure fair competition among all participants.
What potential impact do these updated rules have on the day-to-day operations of businesses?
We see that these new Rules will provide a tool that will set a new benchmark for corporate practice in managing integrity risks throughout global value chains. These go-to Rules can often be incredibly useful for SMEs that don’t necessarily have legal departments and just need to know concretely what the considerations are and what they need to put in place.
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