USCIB Activity During the Opening Week of the United Nations General Assembly

4836_image001As the United Nations General Assembly (UNGA) kicks off this week, USCIB and its global network are involved in a slate of conferences and programs focused around UN climate talks and the core of its Post-2015 Development Agenda, the Sustainable Development Goals (SDGs), which aim to address development, lifestyle and equity issues through international commitments, finance and partnerships.

USCIB’s President and CEO Peter Robinson and Norine Kennedy, vice president for strategic international engagement, energy and environment, will attend the UN Climate Summit on Tuesday, September 23.

Tuesday, September 23

Employment and Decent Work for Inclusive and Sustainable Development
3:00 – 6:00p.m.
Ford Foundation
320 East 43rd Street
New York, NY

The International Labor Organization and the Ford Foundation will convene business executives, senior government officials and UN representatives to discuss how to create decent and productive jobs in the context of the UN’s development goals. Ariel Meyerstein, USCIB’s vice president for labor affairs, corporate responsibility and corporate governance, will be in attendance.

Bloomberg Government Briefing and Reception on Sustainable Business Practices
4:30 – 8:00p.m.
Bloomberg
731 Lexington Avenue
New York, NY

This briefing, presented by Bloomberg Government in partnership with USCIB, will review progress on the UN’s Millennium Development Goals, the Post-2015 Development Agenda and efforts to promote corporate sustainability more broadly. Amina Mohammed, special advisor to the UN secretary general on post-2015 development planning, will be among the speakers at the briefing, which is timed to coincide with the opening of the UN General Assembly and the UN Climate Summit. USCIB President and CEO Peter Robinson and Louise Kantrow, ICC’s Permanent Representative to the United Nations, will also give remarks. The event is underwritten by Accenture. Register for the event here.

Wednesday, September 24

Business Call to Action Annual Forum 2014
8:00a.m. – 7:00p.m
730 Third Avenue
New York, NY

The Business Call to Action’s fifth annual forum will bring together chief executives from prominent BCtA member companies as well as senior representatives from governments, bilateral donors, civil society and the United Nations. The forum will focus on sustaining the momentum of inclusive business in the Post-2015 Development Agenda, particularly in light of pressing issues such as climate change. The agenda includes a breakfast session, three plenary sessions, two breakout sessions and a closing reception. View the full agenda and registration info here.

Ensuring a Positive Contribution of Trade Policy to Climate Action towards COP 21
12:30 – 3:30p.m.
Yale Club
50 Vanderbilt Avenue
New York, NY

The International Center for Trade and Sustainable Development and the Guarini Center of NYU Law will convene a dialogue to explore the potential of the Environmental Goods Agreement negotiations to foster trade as a tool for enhancing climate action and to discuss how this could help support climate negotiations towards Lima and Paris. Invited Speakers include Ambassador Michael Froman, James Bacchus, Chair of ICC’s Trade and Investment Commission and Ann Condon, chair of USCIB’s Environment Committee. Register for the event here.

Business Consultation with UN Representatives of the Climate Technology Center and Network
4:30 – 6:15p.m.
Latham & Watkins
885 Third Avenue
New York, NY

Business representatives will meet with officials from the United Nations Framework Convention on Climate Change, Climate Technology Center and Network to discuss current activities, projects and opportunities for private-sector engagement. Kindly RSVP to Kira Yevtukova (kyevtukhova@uscib.org).

Friday, September 26

Practical Private Sector Engagement in the UN Post-2015 Development Agenda
9:00a.m. – 4:00p.m.
Pfizer
235 East 42 Street
New York, NY

Business input is critical for the success of the United Nations’ Post-2015 Development Agenda. USCIB and ICC organized a “door knock” convening global business leaders and government representatives to discuss the private sector’s role in the UN Post-2015 Development Agenda. Business representatives will present concrete examples of the private sector’s diverse contributions to sustainable development and highlight the importance of creating the right enabling frameworks for the SDGs from the business perspective. Speakers will include Louise Kantrow, ICC’s permanent representative to the United Nations, George Kell, executive director of the UN Global Compact, and many representatives from USCIB member companies. To register, please contact Lea Felluss at (LFS@iccwbo.org) or Kira Yevtukhova at (kyevtukhova@uscib.org).

Related coverage of the UN and the environment:

USCIB Marshals Business Input for UN SDGs (July 22)

Coalition Endorses Environmental Goods Agreement(July 9)

USCIB Attends 1st UN Environment Assembly(June 30)

USCIB Delivers Business Views at Climate Talks(June 5)

Staff contact: Norine Kennedy and Ariel Meyerstein

More on USCIB’s Environment Committee

More on USCIB’s Corporate Responsibility Committee

Realize TFA Benefits Without Delay ICC Tells Trade Negotiators

4834_image002The International Chamber of Commerce (ICC) is appealing to trade negotiators, reconvening this week in Geneva, to find a way forward to implement the World Trade Organization’s Trade Facilitation Agreement (TFA) following the breakdown in talks in July.

Terry McGraw, ICC and USCIB chairman, said: “We urge WTO members to bridge the gap necessary to get the Trade Facilitation Agreement in place. There is no logic in delaying implementation of a deal that could add a possible $1 trillion to global GDP—generating millions of jobs in the process.”

July’s missed deadline came as a huge disappointment to the global business community, but ICC has emphasized that a deal is still possible in the weeks ahead.

McGraw added: “Despite the procedural impasse, we are still seeing many developing economies pressing ahead with plans to implement the agreement. This progress should not be forgotten and should drive momentum to make further progress in the coming weeks.”

An essential tool to boost cross-border SME sales

In a recent letter to trade ministers, ICC pointed out that trade facilitation reforms will enable many companies to trade internationally for the first time, particularly as the Internet opens up new market opportunities for small and medium-sized enterprises to connect with customers across borders.  Indeed, research suggests that improved border and customs measures could trigger a 60-80 percent increase in cross-border SME sales in some economies.

John Danilovich, ICC secretary general, said: “In the case of India, these benefits are especially clear. To take just one example, it is estimated that Indian companies currently suffer a 30 percent cost disadvantage compared to Chinese firms when shipping garments to the United States due to port and customs inefficiencies.”

Danilovich added: “Implementation of the TFA would place Indian firms on a much more even footing in the global marketplace—enabling many companies, particularly small enterprises, to trade internationally for the very first time.”

Opening the way for food security talks

Within the ongoing negotiations, the international business community fully recognizes the importance of reaching an agreement on the food security commitments contained in the Bali package.

“It is ICC’s view that legal adoption of the TFA would provide a conducive environment within the WTO to conclude a workable agreement on this vital issue in the coming months. Importantly, this would allow for discussions on remaining aspects of the post-Bali trade agenda,” said Danilovich.

“The TFA itself offers the potential to address related food security issues in view of provisions to ensure that perishable goods receive expedited clearance at borders.  These hard-won provisions—which would benefit many of the world’s poorest—risk being lost indefinitely if adoption of the TFA is deferred or delayed,” he added.

ICC has pledged unfaltering commitment to a strong, rules-based multilateral trading system embodied by the WTO and is dedicated to ensuring that global business plays an active and constructive role in working with WTO members to help strengthen WTO rules and adapt them to the needs of 21st century trading.

Staff contact: Robert Mulligan

More on USCIB’s Trade and Investment Committee

More on USCIB’s Customs and Trade Facilitation Committee

OECD Releases First Set of Deliverables on BEPS Project

4833_image002Launched last year to revisit the rules applicable to the taxation of cross-border enterprises, the OECD (Organization for Economic Cooperation and Development) project on “base erosion and profit shifting” (BEPS) aims to prevent incidences of non-taxation by developing a single, coherent and fair set of rules that ensure companies pay what they owe without creating unnecessary costs or double taxation.

Yesterday, the OECD released its first set of BEPS recommendations to the G20.

The Business and Industry Advisory Committee (BIAC) issued the following media release:

BIAC broadly welcomes the first set of BEPS consensus reports and recommendations released by the OECD on seven areas of the BEPS Action Plan.

The OECD released yesterday its first recommendations for a co-ordinated international approach to combat tax avoidance under the OECD/G20 Base Erosion and Profit Shifting Project (BEPS).

We welcome the acknowledgement from the OECD that the proposals contained within the seven deliverables are not yet formally finalized as they may be impacted by some of the decisions taken with respect to the 2015 deliverables with which they interact.

We also fully support the OECD’s recognition that rules should not result in double taxation, unwarranted compliance burdens or restrictions to legitimate cross-border activity, which is more important than ever to protect and grow our global economy.

With the release of the seven 2014 deliverables, we caution against governments acting too rapidly to implement recommendations into domestic tax legislation until further implementing guidance has been provided and the interactions with future action items is understood. This would risk creating a series of disparate rules that could negatively impact trade and investment.

BIAC looks forward to continuing its close and constructive work with the OECD on its BEPS project throughout 2015, representing the important views of the international business community.

Staff contact: Carol Doran Klein

More on USCIB’s Taxation Committee

USCIB Urges Congress to Clear Ambassador Backlog

American business leaders appreciate the support of United States embassies on commercial, investment and trade matters. U.S. business is concerned with the current backlog of ambassadorial nominees, since those embassy vacancies represent lost opportunities for American business and investment abroad.

USCIB joined the American Foreign Service Association, the Business Council for International Understanding and the International Stability Operations Association in signing a letter to Senate leaders urging them to swiftly confirm the career members of the Foreign Service for the ambassador positions for which they have been nominated. As of today, 37 career nominees for ambassadorships are awaiting confirmation in the Senate. USCIB and its partners called on the Senate to confirm all career nominees before they recess for mid-term elections.

Read the letter to Senate leaders.

Staff contact: Shaun Donnelly

More on USCIB’s Trade and Investment Committee

IOE President Promotes Youth Employment at G20

IOE factsheet_IOE at a glance eng v_09.inddMore than 75 million youth are unemployed worldwide. Long-term youth unemployment increases the risk of social exclusion well into adulthood and poses broader threats to national productivity, growth and development.

Addressing a B20 Roundtable in Melbourne, Australia on September 9, Daniel Funes de Rioja, president of the International Organization of Employers, called for key actions governments can take to bring about the right conditions for job creation. As a participant in the B20 Human Capital Taskforce, he underscored two areas he particularly wanted to see addressed: structural reform to enhance labor market flexibility and better alignment between prospective employees’ education and the needs of business.

Funes de Rioja also reminded the audience of the part played by the business community in youth workforce development with the launch of the Global Apprenticeships Network (GAN), a coalition of companies that offers apprenticeships to young workers and shares youth employment best practices with other companies and labor administrations.

“Government reforms in both areas are needed in order to open up opportunities for newcomers to enter the labor market, to allow companies to adapt in line with demand, and restore their confidence to hire,” he said. “To date, we have seen progress in terms of implementation of measures to align skills training with labor market needs.” But he added, “focusing on the supply side alone will not bring about a labor market that meets the needs of employers and workers in the 21st century.”

In June 2013, the B20 and L20 reached consensus on the need for a global apprenticeships network to combat long-term youth unemployment. “Global business, through the Business and Industry Advisory Committee to the OECD and the IOE, has since moved forward with launch of the GAN,” said Ariel Meyerstein, USCIB’s vice president for labor affairs, corporate responsibility and corporate governance. “It’s time for countries to meet business half-way to further incentivize and support apprenticeship programs throughout the G20.”

Funes de Rioja concluded by reiterating the position of the B20 Human Capital Taskforce: “Businesses face structural challenges to increasing employment. Dismantling the regulatory barriers that restrict diverse forms of employment is in the interest of businesses and job seekers alike and we hope the G20 governments will not waver from their commitment in this regard.”

Staff contact: Ariel Meyerstein

More on USCIB’s Labor and Employment Committee

USCIB Rolls Out ICC Antitrust Toolkit in the United States

(L-R) Anne Riley (Shell), Brent Snyder (U.S. Department of Justice), John Taladay (Baker Botts), Jennifer Patterson (Kaye Scholer LLP)
(L-R) Anne Riley (Shell), Brent Snyder (U.S. Department of Justice), John Taladay (Baker Botts), Jennifer Patterson (Kaye Scholer LLP)

Antitrust laws – which are designed to control anti-competitive practices such as price-fixing and dividing markets – have proliferated rapidly around the world in recent years, reflecting society’s increasing ethical expectations about the governance of business conduct. Managing the growth of these legal compliance requirements is challenging for all businesses without the right tools to foster a compliance culture.

Designed by business for business, the ICC Antitrust Compliance Toolkit provides valuable guidelines for small and medium sized enterprises (SMEs) and larger companies wishing to build or reinforce a robust compliance program.

On September 9, USCIB and the International Chamber of Commerce co-sponsored a program for the official rollout of ICC’s Antitrust Compliance Toolkit. The Compliance Toolkit received acclaim in many jurisdictions and has been unveiled in 8 other countries: Austria, Belgium, Canada, France, Malaysia, Netherlands, Switzerland and the United Kingdom. Hosted by Kaye Scholer in New York City, the U.S. event featured keynote speaker Brent C. Snyder, deputy assistant attorney general for criminal enforcement at the antitrust division of the U.S. Department of Justice.

The following antitrust experts also served as panelists during the event: John M. Taladay, partner at Baker Botts and chair of the USCIB Competition Committee, Anne Riley, group antitrust council at Shell International, Charles Webb, senior director of international antitrust compliance at Wal-Mart, Aimee Immundo, senior counsel of competition law and compliance at General Electric, Scott Hemphill, law professor at Columbia Law School, and Jennifer Patterson, partner at Kaye Scholer LLP and vice chair of the USCIB Competition Committee.

Participants discussed the importance of business executives committing to a solid and credible antitrust compliance program, regardless of the company’s size. Following Snyder’s keynote address, Riley presented the ICC Antitrust Compliance Toolkit. Attendees then participated in a case study exercise designed to assess the anticompetitive risks of a hypothetical company in three different jurisdictions. The event concluded with a panel discussion on corporate compliance programs, with input from USCIB members.

Keynote speaker Brent Snyder (DOJ) explained that the purpose of having an effective compliance program is to be a responsible corporate citizen.
Keynote speaker Brent Snyder (DOJ) explained that the purpose of having an effective compliance program is to be a responsible corporate citizen.

“Effective Compliance Programs Prevent Antitrust Violations”

As the Department of Justice’s top authority responsible for antitrust laws against cartels, Brent Snyder gave keynote remarks about the importance of crafting an effective antitrust compliance program that prevents violations from happening in the first place. He stressed that a business’s senior management must be committed to antitrust by cultivating a culture of compliance within the organization. CEOs must lay the foundation for a corporate culture of compliance in order for such a program to work.

“The best way to stop a crime is to stop it before it happens,” said Snyder. “Effective compliance programs prevent antitrust violations.”

Snyder noted that the consequences for violating antitrust laws are severe, and that businesses should be aware of the liabilities at stake if an employee breaks antitrust laws. He said that businesses need to be proactive about their compliance programs and that they should pay special consideration to how they approach violators.

He concluded by urging businesses not to think about compliance programs as a “stick” or as a punishment. Rather, “the purpose of having an effective compliance program is to be a good and responsible corporate citizen.”

Snyder explained that the consequences of ineffective antitrust compliance are within the company’s power to control. To that end, the ICC Toolkit is a valuable resource.

“They’re very good tools,” Snyder said about the toolkit. “They’re excellent.”

ICC AntitrustICC Antitrust Compliance Toolkit

The ICC Toolkit, presented at the event by Riley, offers useful guidelines for businesses big and small on how to create an antitrust compliance program and how to strengthen an existing program.

“What this is about is behaving ethically and doing business ethically,” she explained.

The toolkit also covers the importance of getting senior management to support the compliance program, and suggests that a company’s antitrust officers consult with finance departments to help identify areas where there is legal risk of antitrust violations.

Riley noted that “compliance know-how” is a must for business executives, and that companies should make clear why it is in their interest to champion and comply with antitrust rules. All businesses need a consistent, ongoing commitment to compliance from both management and employees, she concluded.

The ICC Toolkit is available for download in English and French at the ICC website. It will soon be translated into several other languages as well.

(L-R) Aimee Immundo (General Electric), Scott Hemphill (Columbia Law School), Charles Webb (Wal-Mart)
(L-R) Aimee Immundo (General Electric), Scott Hemphill (Columbia Law School), Charles Webb (Wal-Mart)

Corporate Compliance Programs

Following a case study exercise that asked participants to assess a hypothetical company’s anticompetitive legal risks, the event concluded with a panel discussion about corporate compliance programs. Panelists included Charles Webb, senior director of international antitrust compliance at Wal-Mart, Aimee Immundo, senior counsel of competition law and compliance at General Electric and Scott Hemphill, law professor at Columbia Law School.

Webb explained that large corporations like Wal-Mart are interested in knowing how to implement “a world class antitrust program,” and he used the ICC Toolkit to that end.

Immundo stressed that the human aspect of compliance is hugely important but difficult to quantify. She warned that people have gone to jail for antitrust violations and that it is crucial for businesses to carefully monitor their horizontal relationships so that executives don’t wander into potentially dangerous anticompetitive territory with their peers.

A recurring theme throughout the event was that it is challenging to get business people interested and fired up about antitrust compliance. Hemphill suggested that companies provide vivid examples to employees about the personal risks and consequences of violating antitrust rules. He lauded the ICC Antitrust Toolkit for helping to generate interest in compliance.

Staff contact: Justine Badimon

More on USCIB’s Competition Committee

Register for ICC’s Banking Supply Chain Summit

4825_image002Given the volatile economic climate in the wake of the financial crisis, innovations in working capital flows are more vital than ever before. That is why USCIB and its global network are focusing on the establishment of new financial solutions that will enable companies to maintain a resilient supply chain.

USCIB invites you to join a gathering of the world’s leading supply chain finance experts for timely and thoughtful discussions about the forces driving change in trade finance.

ICC’s 3rd Annual Supply Chain Financing Summit
October 22-23, 2014
Maison des Arts et Métiers
Paris, France

 
This summit will provide an opportunity for large and small companies to learn from experienced global professionals about their visions and strategies in the new area of supply chain finance. Topics of discussion include streamlining of trade finance operations, the changing landscape from the BPO (bank payment obligations) perspective, the impact of the regulatory environment, dealing with logistical hurdles, and more. The chair of USCIB’s Banking Committee, Michael Quinn (JP Morgan), will speak at a panel titled “BPO: From Conception to Adoption.”

In addition, prior to the summit on October 21, participants will have the chance to take part in a web-based simulation game where they’ll learn to balance the constraints and manage the interdependencies of the physical and financial supply chain.

USCIB members may register online for the event at a discount by entering the code USA-9262.

Staff contact: Eva Hampl

More on USCIB’s Banking Committee

USCIB Calls to Strengthen Improve the Internet Governance Forum

Digital Globe

When the United Nations General Assembly adopted the Universal Declaration of Human Rights 60 years ago, negotiators had no idea that Article 19 would speak directly to Internet governance years later: “Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and important information and ideas through any media regardless of borders.”

The annual Internet Governance Forum (IGF) is a conference under UN auspices that serves as a neutral space for all stakeholder groups to discuss policies affecting the Internet. The IGF gives stakeholders the chance to understand how to maximize Internet opportunities and address common challenges.

Nearly 3,500 stakeholders from business, government, civil society, the technical community and academia representing 135 countries gathered in Istanbul for the 9th Internet Governance Forum. Barbara Wanner, USCIB’s vice president for ICT policy, attended this year’s IGF along with USCIB members and global business colleagues under the aegis of the International Chamber of Commerce’s BASIS (Business Action to Support the Information Society) initiative.

The global business community supports extending the authorization of the IGF beyond its five year mandate. Business also called for improvements to the IGF aimed at preserving its essential “DNA” as a unique multistakeholder laboratory for thoughtful, useful and non-binding considerations of increasingly complex Internet governance issues. The week culminated with strong endorsements from virtually all stakeholders for the continuation of an IGF that is evolving to address the challenges of an ever-changing Internet.

The business community’s main messages and initiatives are summarized below.

IFG is not NETMundial

The 9th IGF found itself at an important inflexion point coming as it did four months after Brazil’s well-received NETMundial meeting — which produced negotiated, non-binding Internet governance (IG) principles. Some stakeholder groups have urged remaking the IGF in the NETMundial mold, but the business community maintains that the IGF does not lend itself to producing unitary, negotiated outcomes.

While the NETMundial is focused on two objectives, the IGF enables discussion of dozens of different Internet governance issues yielding tens of dozens of different recommendations. ICC-BASIS emphasized that while IGF improvements might include tangible deliverables, such as best practices and more “portable” capacity-building lessons, the IGF was not designed to be a forum for negotiated outcomes.

Letter to the UN General Assembly

Another important initiative that evolved during the week was the development of a multistakeholder letter to the UN Secretary General. The letter advocated an “open-ended mandate” for the IGF, which would facilitate the strengthening of IGF procedures, enable participants to secure long-term funding for projects, and support the IGF Trust Fund.

ICC-BASIS supported the concept of the letter. However, BASIS withheld formally signing on pending further work on language that business believes will offer a more compelling message to the UN Secretariat. The letter ultimately went back to the drawing board to address the concerns of business and other stakeholders.

Financial Support for the IGF

On September 1, the Internet Society (ISOC) announced the launch of the IGF Support Association. This organization will support the continuation of the IGF through increased funding. It will also seek and promote exchange and collaboration with national and regional IGFs, among other initiatives. USCIB Members Cheryl Miller (Verizon) and Virat Bhatia (AT&T) were elected to the Executive Committee.

Bolster Regional and National Internet Governance Forums

Participants largely agreed that an important means of bridging the digital divide and bringing the Internet to “the next 500 billion users,” is fostering more robust Internet governance discussions at both national and regional IGFs. BASIS concurred, urging an “omni-directional dialogue” across national and regional IGFs.

Workshops

USCIB Members made important contributions to several workshops focusing on topics as diverse as evaluating multistakeholder mechanisms, privacy and trust, ICTs and trade, and the potential of cloud computing for emerging economies.

Read full reports of IGF workshops.

ICC BASIS also weighed in at other sessions of interest, which addressed issues such as IGF intersessional work, net neutrality, the transition of the stewardship of IANA Internet domain name management functions, and enhancing the institutional accountability of ICANN.

More coverage of the Internet Governance Forum (ICC website)

Staff contact: Barbara Wanner

More on USCIB’s Information and Communications Technology Committee

Register for ICC’s Banking Supply Chain Summit

4825_image002Given the volatile economic climate in the wake of the financial crisis, innovations in working capital flows are more vital than ever before. That is why USCIB and its global network are focusing on the establishment of new financial solutions that will enable companies to maintain a resilient supply chain.

USCIB invites you to join a gathering of the world’s leading supply chain finance experts for timely and thoughtful discussions about the forces driving change in trade finance.

ICC’s 3rd Annual Supply Chain Financing Summit
October 22-23, 2014
Maison des Arts et Métiers
Paris, France

 
This summit will provide an opportunity for large and small companies to learn from experienced global professionals about their visions and strategies in the new area of supply chain finance. Topics of discussion include streamlining of trade finance operations, the changing landscape from the BPO (bank payment obligations) perspective, the impact of the regulatory environment, dealing with logistical hurdles, and more. The chair of USCIB’s Banking Committee, Michael Quinn (JP Morgan), will speak at a panel titled “BPO: From Conception to Adoption.”

In addition, prior to the summit on October 21, participants will have the chance to take part in a web-based simulation game where they’ll learn to balance the constraints and manage the interdependencies of the physical and financial supply chain.

USCIB members may register online for the event at a discount by entering the code USA-9262.

Staff contact: Eva Hampl

More on USCIB’s Banking Committee

Discover Global Markets in Greater China

4823_image001

USCIB, in partnership with the U.S. Commercial Service, invites you to attend the Discover Global Markets in Greater China business forum. The event will take place at the New York Athletic Club in New York City on October 7 and 8.

This forum is an opportunity for companies to learn from experts with experience doing business in Asian markets including Singapore, Hong Kong, Mongolia and Taiwan, Province of China.

The event will offer attendees the chance to:

  • Meet one-on-one with U.S. Commercial Service diplomats
  • Acquire practical and actionable market intelligence on the world’s fastest-growing economies
  • Obtain the resources necessary to succeed in the challenging, but rewarding, markets of Greater China

The USCIB International Bookstore will also be promoting its trade finance at the conference, including Incoterms®2010, International Standard Banking Practice (ISBP), Uniform Rules for Bank Payment Obligation (URBPO) and The Guide to Export/Import as well as many other popular International Chamber of Commerce titles.

Staff contact: Elizabeth Cafaro, ecafaro@uscib.org

More on USCIB’s Trade Services