Unraveling ICC’s 2023 Rules on Combating Corruption: Navigating Corporate Integrity
The International Chamber of Commerce (ICC) has set a new benchmark for corporate practices in managing integrity risks across global value chains with the launch of its 2023 Rules on Combating Corruption. Acknowledged as a flagship tool for building business integrity worldwide, these rules represent an update to the 2011 edition, aligning with evolving standards and corporate practices.
Introduction and Background
Introduced on December 11, 2023, by ICC Chair Maria Fernanda Garza at the UN Conference of the States Parties to UN CAC in Atlanta, these rules mark a significant step in enhancing the implementation of the UN Convention against Corruption on its 20th anniversary.
In-depth Discussion with Viviane Schiavi
In a conversation with Viviane Schiavi, ICC Global Policy Lead on Anti-corruption and Corporate Responsibility, we explore the changes and additions to the new ICC Rules, addressing current challenges in preventing corruption.
Key Additions and Reinforcements
The 2023 Rules reinforce provisions for reporting mechanisms, crucial in uncovering and deterring wrongdoing. They also emphasize engaging and managing third parties and, for the first time, advocate for the promotion of Responsible Business Conduct.
Guiding Businesses in the Fight Against Corruption
Businesses are urged to establish a code of conduct, explicitly prohibiting corrupt practices. Taking a proactive stance, companies should build compliance programs based on risk assessments tailored to their business nature.
ICC’s Pivotal Role in Global Anti-corruption Efforts
ICC’s role in influencing global anti-corruption efforts is highlighted, emphasizing its commitment to a corruption-free system where all participants compete on a level playing field.
Impact on Day-to-day Operations
In terms of day-to-day operations, these updated rules are expected to set a new benchmark for corporate practices in managing integrity risks across global value chains. Particularly beneficial for SMEs lacking legal departments, these rules provide concrete considerations and actions needed to combat corruption effectively.
FAQs:
Q1. What is the purpose of the ICC’s 2023 Rules on Combating Corruption?
A1. The rules aim to provide a global standard for the private sector in the fight against corruption, including bribery and extortion. They outline measures that companies should take to prevent corruption.
Q2. What are the key components of the ICC’s 2023 Rules on Combating Corruption?
A2. The rules comprise three parts: substantive rules on key points, corporate policies to support compliance, and key elements for an efficient corporate compliance program.
Q3. How do the ICC’s 2023 Rules on Combating Corruption impact businesses?
A3. The rules provide clear guidelines and standards for businesses, fostering a culture of transparency and accountability that is essential for sustainable economic growth and development.
Q4. What is the role of the ICC Global Commission on Anti-corruption and Corporate Responsibility?
A4. The ICC Global Commission on Anti-corruption and Corporate Responsibility led the development of the 2023 rules. The commission advocates for the critical role of compliance by enterprises with self-imposed rules.
Q5. How does the ICC’s 2023 Rules on Combating Corruption relate to the UN Convention against Corruption?
A5. The launch of the rules coincided with the 20th anniversary of the UN Convention against Corruption. The ICC has urged G20 leaders to ratify and implement the convention and encourages work with non-G20 states toward its universal adoption and implementation.
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