Communication Department Archives

USCIB Members in Vanguard of White House Climate Action Pledges

Published on October 21, 2015

White_HouseOn October 19, the White House announced a set of new commitments from 81 companies – including dozens of USCIB members – under the American Business Act on Climate Pledge, which aims to rally support in the business community for action on climate change and the conclusion of strong United Nations climate agreement in Paris this December.

USCIB President and CEO Peter Robinson welcomed the announcement. “USCIB has consistently focused on the necessity of ensuring that international action on climate works in harmony with the global economy,” he said. “These commitments demonstrate that the American business community is stepping up to help turn that ambition into reality. Leadership actions like these underline why a successful outcome in Paris must anchor and recognize business engagement and consultation going forward.”

Vice President Joe Biden gave closing remarks at the White House climate summit on Monday, during which government officials and business leaders convened for panel discussions about how the public- and private-sectors can work together on addressing climate change on the road to the UN climate agreement in December. Several USCIB members participated in the discussions.

With USCIB’s longtime climate, energy and environment expert Norine Kennedy on the front lines in Bonn, Germany for this week’s final negotiating session in advance of the Paris conference, Shaun Donnelly represented USCIB at the White House climate Summit.

USCIB is the U.S. affiliate of the International Chamber of Commerce and a U.S. partner of the Major Economies Business Forum (BizMEF).  It has represented U.S. business interests in the UNFCCC since 1993.  Please check its climate change website for continuing updates of its climate change positions and plans for the UN climate agreement in December (COP21).

USCIB will hold a COP21 Preparatory Meeting for U.S. Business in Washington DC on November 17.  This meeting will update U.S. business representatives on the latest political developments in the UN negotiations, review opportunities for business activities and engagement at COP21 and highlight business priorities for the Paris outcomes.  Contact Norine Kennedy for more information.

Read the White House fact sheet.

Megan Giblin Joins USCIB as Director of Customs Policy

Published on October 19, 2015

GiblinWashington, D.C., October 19, 2015 – Megan M. Giblin  has joined the United States Council for International Business (USCIB) as director of customs and trade facilitation. The move enhances the organization’s role as a leader in providing business views on U.S. and international customs policy at a time that reducing barriers to movement of goods and services at the border is increasingly vital to the competitiveness of our members.

“Megan brings strong customs experience, with nearly a decade in the field, at a time when we face a number of crucial business priorities demanding attention,” said Rob Mulligan, USCIB’s senior vice president for policy and government affairs. “These include urgently needed U.S. Customs reauthorization legislation, as well as entry into force and implementation of the landmark WTO Trade Facilitation Agreement, which the United States has ratified but which still must be ratified and implemented by many other countries.”

In her new position, Giblin will manage USCIB’s work on customs policy, providing staff direction and support to USCIB’s Customs and Trade Facilitation Committee, chaired by Jerry Cook, vice president of government and trade relations with Hanes Brands. Additionally, she will serve as an International Chamber of Commerce (ICC) representative to the World Customs Organization’s Harmonized Systems Committee.

Giblin previously served as business operations manager in Hewlett-Packard Company’s global trade department, working on customs, trade policy and trade facilitation. Additionally, Giblin has served as a cleared advisor to the U.S. Department of Commerce and the Office of the U.S. Trade Representative, serving on and co-chairing the Industry Trade Advisory Committee (ITAC) on Customs and Trade Facilitation Matters. She holds an MBA from the Middlebury Institute of International Studies at Monterey and a bachelor’s degree from Illinois State University.

Click here for more information on USCIB’s Customs and Trade Facilitation Committee. Click here to read Committee Chair Jerry Cook’s recent column on customs policy priorities in American Shipper magazine.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

USCIB Provides Business Voice at UN Discussion on Informal Economy

Published on October 19, 2015
Ariel Meyerstein
Ariel Meyerstein

USCIB Vice President Ariel Meyerstein participated as a lead discussant at a panel at the United Nations on “Promoting Inclusive Growth: Transitioning from the Informal to the Formal Economy” on October 16. Meyerstein provided the private sector perspective on the challenges associated with informal employment. The panel followed this year’s earlier release of the International Labor Organization’s (ILO) Recommendation on Transitioning from Informal to Formal Economies.

Formalizing employment is of strategic significance for millions of workers and enterprises around the world who are working and producing in precarious and vulnerable conditions.  It is estimated that half of the global labor force and 90 percent of small businesses operate in the informal economy, with women and youth disproportionately engaged.

The panel discussion provided a platform for governments and development partners to explore how the transition from the informal to the formal economy could contribute to enhancing productivity, innovation and achieving inclusive growth and decent work for all. Panelists explored how the ILO recommendation can contribute to the fulfillment of the UN Sustainable Development Goals and identified the policies needed to promote the transition from the informal to the formal economy.

Meyerstein addressed how the ILO recommendation is important to the business community and what the role of the private sector is in ensuring formalization.

(Meyerstein’s presentation begins at 1:27:00.)

“The employers actually proposed this recommendation,” Meyerstein said. “You can see this emphasis on economic growth and job creation expanding the attractiveness of the formal sector. That’s something we were pushing for and it’s good that it’s in the recommendation.”

Meyerstein provided examples of how businesses can facilitate the transition from the informal to the formal economy, including USCIB member Mastercard’s partnership with Egypt to provide all citizens with a national ID, thereby expanding financial inclusion. He noted that part of the solution to addressing informality is making the formal economy more attractive to businesses. He concluded by saying that employers can also help by addressing youth unemployment and the skills mismatch, and he mentioned the Global Apprenticeship Network, a project by the International Organization of Employers designed to teach youth the skills they need to join the formal economy.

USCIB’s Klein Tells Media Dispute Resolution is Crucial for BEPS

Published on October 16, 2015

taxes-portIn a Bloomberg BNA article, Carol Doran Klein, USCIB’s vice president and international tax counsel, explained that effective dispute resolution will be necessary for the success of the Organization for Economic Cooperation and Development’s (OECD) project on base erosion and profit shifting (BEPS), designed to rewrite the rules of the international tax system. The OECD released its final BEPS recommendations on October 5.

At an international tax conference on October 15 in Toronto, Klein told attendees that BEPS’s new rules on profit attribution and allocation of risk will lead to more controversy, because there is no guarantee that governments will interpret these rules consistently. Effective dispute resolution is therefore key for the successful implementation of the BEPS recommendations.

“I think that the arm’s-length standard, as set out in the guidelines, can work—but only with real functioning dispute resolution,” Klein told Bloomberg BNA. “It is going to be key to resolve disputes early, for this process to have success,” she said. “You could have real transfer pricing reform, but only in my view if the dispute resolution is implemented as indicated in the guidance.”

Klein also said that questions risk analysis about risk analysis were likely to cause dispute, and the implementation could be subjective.

“It is clear that the risk-adjusted return depends on the credit-worthiness of the borrower and the riskiness of the investment, but there’s very little guidance on how these factors should be determined and weighted,” Klein told Bloomberg. “Tax administrations may also be examining the riskiness of a transaction after that risk has played out, so reaching agreement on a risk-adjusted return may be challenging.”

Read more: “Companies See Dispute Resolution as Crucial in BEPS” (Paywall)

 

 

USCIB to Honor AT&T’s Stephenson for Global Leadership

Published on October 15, 2015
Randall Stephenson (AT&T)
Randall Stephenson (AT&T)

New York, N.Y., October 12, 2015 – Randall Stephenson, chairman and chief executive of AT&T Inc., will be honored by the United States Council for International Business (USCIB), a pro-trade group that represents America’s leading global companies. Stephenson will receive USCIB’s International Leadership Award at a gala dinner on November 9 at the Waldorf-Astoria in New York.

“Randall Stephenson has truly made his mark at AT&T, a company that epitomizes innovation and a commitment to connectivity, quality and security in today’s fast-paced global economy,” said USCIB Chairman Terry McGraw, chairman emeritus of McGraw Hill Financial [now S&P Global]. “He has further reinforced the company’s commitment to open markets, and to free and fair competition, while demonstrating how a large, global company can help improve the lives of people everywhere.”

Stephenson was named AT&T’s chairman and chief executive in 2007.

Under Stephenson’s leadership, AT&T has become the largest pay-TV provider in the U.S. and the world; built a best-in-class nationwide wireless network, serving more than 132 million subscribers in the U.S. and Mexico; and deployed wired high-speed Internet service to 57 million customer locations. It plans to extend its high-speed mobile Internet service to 100 million people and businesses in Mexico by 2018. In 2014, AT&T reported revenues of over $132 billion in 2014 and 31 consecutive years of dividend growth.

In 2008, at Stephenson’s direction, the company launched AT&T Aspire, a philanthropic program to help improve college and career readiness for students at risk of dropping out of high school. Stephenson has also led AT&T’s “It Can Wait” campaign, an education and awareness program encouraging people to never text while driving.

Stephenson also serves as chairman of the Business Roundtable, and is on the board of Emerson Electric Co.

USCIB’s International Leadership Award has been presented annually to a leading CEO, international figure or institution since 1980, recognizing outstanding contributions to global trade, finance and investment. Recent recipients have included Roberto Azevedo, director general of the World Trade Organization, and Fred Smith, CEO of FedEx.

Founded in 1945, USCIB is celebrating its 70th anniversary this year. Organizers of the event promised some special surprises at the dinner to mark the auspicious anniversary. The annual award gala draws hundreds of business leaders and dignitaries from government and diplomatic circles. More on the event is available at www.uscibgala.com.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

ICC Launches Climate Website on the Road to COP21

Published on October 14, 2015

cop21_slider_sourceIn less than 50 days, over 40,000 participants will converge in Paris to conclude talks on a new global climate agreement. As the business focal point for the United Nations climate talks and the landmark Paris Climate Conference (COP21), the International Chamber of Commerce (ICC) has launched a one-stop website to mobilize business in the run up to and during the two-week conference.

Launched during Climate Week, the dynamic website provides overviews of and access to global business positions and recommendations. The website’s newsroom will help visitors keep pace with developments, providing easy access to the latest climate policy news, ICC press releases, speeches, videos and infographics.

The user-friendly ‘Road to COP21′ website also provides a comprehensive overview of the range of briefings and events hosted by ICC and partners during COP21. These include the official COP21 Business Day on December 4 and the International New York Times’ Energy for Tomorrow 2015 conference on December 8.

“The COP21 website is ICC’s response to the need for bespoke support services for member companies of the world business organization,” said ICC Secretary General John Danilovich. “Our aim is to ensure that everything business needs to navigate COP21 is just a click away.”

Visit cop21.iccwbo.org

USCIB Cites Concerns Over End of “Safe Harbor”

Published on October 13, 2015

Digital GlobeUSCIB joined 22 other associations in signing a letter to European Commission President Jean-Claude Juncker explaining how the wholesale invalidation of the U.S.-EU Safe Harbor program will negatively impact the business operations of thousands of companies that rely on transatlantic commercial data transfers.

Established in 2000, the U.S.-EU Safe Harbor framework makes it easier for American companies to certify that they meet an “adequacy” standard for digital privacy protection, which under EU law is necessary to allow businesses to transfer data from EU countries. On October 6, the EU Court of Justice ruled that the 2000 U.S.-EU Safe Harbor Decision is invalid.

“This invalidation constitutes a serious disruption for the thousands of companies that have relied on the framework for commercial data transfers between the EU and the United States,” wrote USCIB and 22 other U.S. and EU tech-based associations in a joint letter to the European Commission. “These commercial data flows are central to facilitating transatlantic trade and the continued development of Europe’s data driven economy.”

The letter explained that “companies take their legal commitments very seriously when transferring data to the United States in compliance with European law,” and that the EU court’s judgement has created legal uncertainty. The letter urged the European Commission to come up with a harmonized implementation of the court’s judgement, so as to avoid “fragmenting the EU’s common approach to international data transfers.”

The joint letter also called on the European Commission to provide guidance for companies operating under the safe harbor framework, and for both the U.S. government and the Commission to urgently conclude their negotiations aimed at strengthening the Safe Harbor framework.

Read the full letter here.

Groundbreaking ICC Academy Goes Live

Published on October 13, 2015

The International Chamber of Commerce’s (ICC) educational platform, the ICC Academy has gone live today – providing millions of business professionals and students around the globe with access to a new standard in business education. Commonwealth Bank of Australia, DBS, OCBC Bank, Banco Santander, and Standard Bank have been announced as “early adopters” of ICC Academy training courses.

Launched earlier this year, the ICC Academy has now opened its virtual doors and unveiled its online curricula of courses – all designed and taught by leading industry experts – and its groundbreaking Learning Management System.

Five banks will be “early adopters” of the ICC Academy, enabling employees to access its initial trade finance programs. The Academy’s trade finance offering features over 70 online courses and two global certificates in trade finance (the “Global Trade Certificate” and “Certified Trade Finance Professional”). These initial courses have been designed drawing on the expertise and experience of the ICC Banking Commission – comprising more than 600 members across 110 countries.

ICC Academy courses feature insights from senior business leaders and policymakers, and can be accessed online by prospective students – professionals, academics, tertiary students or members of the general public – anywhere in the world, at any time. Not only does this make it convenient for those with busy schedules, it also means that students in regions where physical access to training is limited can have equal access to world-class professional education. What is more, upon completion of courses, students receive globally-recognized certification of their professional skills.

“The ICC Academy is an effective response to a global need for high-quality, flexible business education available on a large scale,” said John Danilovich, secretary general of ICC. “We hope our initial trade finance offering will help bridge skills gaps as regards trade finance instruments-both within the banking sector and wider industry. Academy courses have a key role to play in enhancing the supply of trade credit and ensuring that corporates understand the financing options open to them.”

By becoming “early adopters” of the ICC Academy, all five banking partners can ensure their employees are not only internationally certified trade finance professionals, but are authorities on the trade finance industry – regularly completing courses and attending various conferences or seminars that allow them to continually adapt to fit the evolving landscape.

 

 

USCIB Promotes Women’s Empowerment in the Food Supply Chain

Published on October 12, 2015

africa_fruit_vendors_lo-resThis week delegates from around the work will be reviewing world food security policies at the 42nd session of the Committee on World Food Security (CFS) at the United Nations Food and Agriculture Organization (FAO).  A record-setting 126 private sector representatives from 39 countries have registered to attend the 42nd plenary session taking place from October 12 to 15 in Rome. CFS is one of the most inclusive intergovernmental platforms that allows stakeholders to work together and ensure food security and nutrition for all.

In an effort to catalyze political will and focus around food security, USCIB supported an event on October 9 in Rome about “Women’s Empowerment: Solutions at the Nexus of Agriculture, Nutrition and Enterprise,” co-chaired by Cherie Blair, president and founder of Cherie Blair Foundation for Women, and Irene Khan, director general of the International Law Development Office. The event convened high-level representatives from business, government and NGOs for a dialogue about women’s access to productive resources (finance, tools, technology, land), women’s contributions to health and nutrition and the role of women in fostering food security.

Shaun Donnelly, USCIB’s vice president for investment and financial services, participated in the broad-based roundtable discussion, which included business leaders, 12 FAO ambassadors and representatives from leading NGOs. There was  broad agreement about the challenges faced by women and the importance of having multi-stakeholder partnerships to  empower women in agriculture and supply chains. Empowering women would improve food security and nutrition, as well as create a positive ripple effect in raising the standard of living for their families and strengthening their communities.

Many agreed that when women have more control over household assets and income, they invest more in their families’ food, health, education and children’s well-being. Thriving families are better positioned to contribute meaningfully to their communities, and a well-nourished population is better able to participate in the workforce. By empowering women in agriculture and supply chains, the world can make significant gains toward realizing the FAO’s Strategic Objectives and several of the broader United Nations Sustainable Development Goals (SDGs), such as:

ICC Tunisia Honorary Chairman Receives Nobel Peace Prize 2015

Published on October 12, 2015
Wided Bouchamaoui
Wided Bouchamaoui

The International Chamber of Commerce (ICC) and the International Organization of Employers (IOE) congratulated Wided Bouchamaoui, honorary chairman of ICC Tunisia and president of IOE member Tunisian Confederation of Industry, Trade and Handicrafts (UTICA), for receiving the 2015 Nobel Peace Prize.

UTICA along with the Tunisian Human Rights League, the Tunisian Order of Lawyers and the Tunisian General Labor Union compose the Tunisian National Dialogue Quartet which has been awarded today in Oslo. UTICA submitted the application to the Nobel Prize selection committee on behalf of the four organizations.

The quartet has made a decisive contribution to the building of a pluralistic democracy in Tunisia in the wake of the Jasmine Revolution of 2011. The four organizations exercised their role as a mediator and driving force to advance peaceful democratic development in Tunisia with great moral authority.

In its official announcement, the Nobel committee said: “The quartet paved the way for a peaceful dialogue between the citizens, the political parties and the authorities and helped to find consensus-based solutions to a wide range of challenges across political and religious divides.”

Bouchamaoui is also a winner of the 2015 Business for Peace Award, an annual prize given to outstanding business people who have been able to achieve business success while acting in an ethically responsible way.