ICC Archives

How Technology Can Catalyze Sustainable Development

Published on October 18, 2016

Global Communications. 3D rendering.

Too often, new technologies are regarded as only benefiting high-tech businesses or improving lifestyles for those in developed countries — a common misconception that could limit the potential benefits of these innovations for developing economies.

A new paper by the International Chamber of Commerce (ICC) on “the Internet of Everything” brings to light how new technology can be leveraged by developing countries to address fundamental sustainable development issues and needs.

To learn how emerging technologies work in practice and the policy conditions needed to realize the societal benefits they have to offer, we sat down with Joseph Alhadeff (Oracle), chair of the ICC Commission on the Digital Economy, on the sidelines of the 4th Africa Information and Communication Technologies Alliance summit, which took place last week in Windhoek, Namibia.

You can read the full interview on ICC’s website. Click here to download the ICC paper.

 

12 Reasons to Attend ICC’s Miami Arbitration Conference

Published on October 14, 2016

Miami

Hundreds of legal professionals from the United States and Latin America are set to converge in Miami next month for the International Chamber of Commerce (ICC) Miami Conference on International Arbitration.

Originally launched 14 years ago with just 60 participants, the annual event now attracts around 550 practicing lawyers, arbitrators, mediators, corporate counsel and academics for debate, discussion and insight into the latest trends and developments in international arbitration

The Miami Conference was the first of many ICC regional arbitration conferences that take place worldwide today and with even more participants expected this year.

We bring you 12 highlights of the event to get you geared up to attend. See all 12 on ICC’s website.

How and Why to Rethink Data Fow Restrictions

Published on September 28, 2016

Digital_economyTaking part in discussions on the latest developments in world trade at the World Trade Organization’s Public Forum in Geneva this week, the International Chamber of Commerce (ICC) has signaled increasing business concern regarding countries that impose restrictions on cross-border data flows without considering the impact on their respective economies and small- and medium-sized enterprises (SMEs) that make up 95 percent of enterprises globally.

In a new set of recommendations issued today at the Forum, ICC calls on policymakers to consider the detrimental effects to GDP growth from applying blanket restrictions and highlights the importance of creating trusted environments to better enable use of information and communication technologies (ICTs), and related data flows, on which companies of all sizes rely.

The flow of digital information is a key driver of economic development and inclusive growth by raising productivity, increasing efficiency, broadening participation in and facilitating access to markets not least for developing-economy businesses.

Over the last 10 years data flows are estimated to have raised world GDP by at least 10% and today exert a larger impact on GDP growth than trade in goods.

“The Internet and Internet-enabled services, which rely on cross-border data flows, are vital for companies across all sectors of the economy and are particularly critical for small- and medium-sized enterprises,” the ICC paper says. “Access to digital products and services, such as cloud applications, provides SMEs with cutting edge services at competitive prices, enabling them to participate in global supply chains and directly access customers in foreign markets in ways previously only feasible for larger companies.”

To help policymakers address negative implications for growth from blanket restrictions to data flows, the new ICC primer outlines seven steps that governments can take to ensure citizens and companies realize the full potential of the Internet as a platform for innovation and economic growth.

The recommendations are:

Build trust

This can be done by ensuring that users have appropriate control and practical mechanisms with regard to how personal data is used, and the companies to which they entrust their data should adopt recognised and applicable best practice to ensure that the data is appropriately secured as technology and services evolve.

Promote the establishment of a new trade principle

This should include the underlying objective of allowing the flow, storage, and handling of all types of data across borders, subject to privacy and security laws and other laws affecting data flow covered under GATS article XIV.

Be non-discriminatory

Certain compelling public policy issues – including privacy and security – are recognised as possible exceptions and may form a legitimate basis for governments to place some limits on data flows if they are implemented in a manner that is non-discriminatory, is not arbitrary, is least trade restrictive, and not otherwise a disguised restriction on trade.

Include relevant players and show consistency

Any limits on cross-border data flows for privacy and security objectives should be consistent with GATS obligations, and include all relevant players and are equally applied.

Promote coherence

This can be done through national rules and regulations that affect the movement of goods, services, and information across borders.

Support the Internet’s enabling role

Especially for SMEs to grow and participate in global trade.

Ensure any regulatory measures which limit data flows are necessary to accomplish the recognised and compelling public policy objective

Measures should be the least trade restrictive policy alternative needed to effectively address the issue, not be arbitrary or discriminatory, and not be disguised restrictions on trade in services.

Read Trade in the digital economy: A primer on global data flows for policymakers

ICC New York Conference Explores Regional Arbitration Landscape

Published on September 22, 2016

ICCNewYorkConferenceOver two hundred practicing lawyers, corporate counsels, dispute resolution practitioners and academics from around the world participated in the 11th International Chamber of Commerce (ICC) New York Conference on International Arbitration on September 14, 2016.

The high-level event proved to be a successful blend of thought-provoking discussions and stimulating networking opportunities for professionals wanting to keep pace with the latest North America arbitration trends.

The one-day conference kicked off with speeches from ICC International Court of Arbitration President Alexis Mourre and ICC Court Secretary General Andrea Carlevaris. During his address, Mourre outlined principle objectives and long-term vision for the Court.

“With more than 200 registered delegates, the ICC North American regional conference held in New York is a testament to the continuous growth of our workload in the United States, Canada and Mexico. This conference is already the main arbitration event in the region and we look forward to it becoming even more successful in the years to come,” said Mourre.

Finding balance in institutional reform

The first item on the agenda was a discussion on the series of reforms recently adopted by the Court. These changes are part of an on-going strategy that aims to modernise and enhance transparency and predictability procedures in ICC Arbitration. However, these policies bring to light questions regarding the role of an arbitral institution, its tools made available to satisfy users’ needs and appropriate methods of regulation. Expert opinions and perspectives were debated by the panel comprising leading arbitration practitioners. Each made comments as to whether or not the reforms sufficiently meet user expectations. Global Chief Litigation Counsel at GE Oil and Gas, Michael McIlwrath, said: “It feels as though the past four years have seen more changes in the practice of international arbitration than the previous 40. But more progress remains to be made.”

Confronting problems of parallel proceedings

While simultaneous proceedings are by no means a new phenomenon, they have become increasingly more commonplace. Parallel arbitrations between the same or closely related parties; multiple arbitrations in a series of vertical contracts; civil suits in one or more courts; even criminal investigations and prosecutions have progressively turned into companions to international arbitration. The second conference panel explored how international arbitration and other dispute resolution mechanisms work together, and at times conflict, in managing the many facets of a complex case. Panellists provided insight and effective strategies to employ when dealing with such complexities.

Challenges of witness testimony

The final panel dealt with the flaws in witness testimony. Although it is commonly presented in international arbitration, cognitive science has demonstrated the unreliability of human memory. The panel explained the contemporary scientific understanding of witness recall and whether the implications of this research present a problem in arbitration procedures. When discussing how arbitration practice can improve arbitrators’ ability to reliably determine facts, Associate Professor at John Jay College of Criminal Justice and the City University of New York, Deryn Strange, voiced her thoughts on changes that should be made. She said: “Memory evidence should be treated in similar ways to biological evidence – protected from any distorting or contaminating influence at every step of the judicial process.”

The conference concluded with an interactive mock plenary session. The exercise celebrated the Court’s inaugural working session in New York City, which took place on September 15-16, 2016. In the more than 90-year history of the Court, this is only the second occasion where the full Court met outside of its Paris headquarters – the first having occurred only recently in Hong Kong on June 30, 2016.

Court working sessions include a ‘regular’ plenary session – a monthly meeting, deciding on challenges against arbitrators and scrutinising draft awards in cases with states or state entities as parties, and draft awards reached by majority.

Court working sessions also include sessions on Court activities of the previous 12 months, and sets out objectives for the following year. Reports on the Court’s activities and future work were presented by Mourre and Carlevaris.

The two-day working session concluded with a roundtable discussion. The secretariat and Court vice presidents announced their first conclusions on the Court’s recently-introduced practices. These practices comprise communications of reasons on Court decisions; the publication of arbitrators’ names on the ICC website; diversity in the appointment of arbitrators; tackling delays in the timely submission of awards; and reduction and uplift of arbitrators’ fees.

For those who were not able to attend the sold-out ICC New York conference, the next regional arbitration event is the ICC Miami Conference, 13-15 November 2016 .

How Can Business Help Tackle the Refugee Crisis?

Published on September 19, 2016

UNHCR_summit

This week the United Nations (UN) is hosting its first high-level summit in response to the global refugee crisis unfolding across Europe, the Middle East and Africa.

According to the UN High Commissioner for Refugees (UNHCR), 60 million people, including 19.5 million refugees, have been displaced by conflict in 2015. The UN summit will focus on government efforts to diminish the suffering of people forced to flee conflict and support solutions for the resulting widespread societal disruption. The role of the private sector in tackling the refugee crisis should not be understated.

Companies of all sizes and from all sectors have already pledged to respond to the refugee crisis through a series of initiatives – from funding campaigns to delivering essential training programs. USCIB’s global network is encouraging companies to do more where they can, based on their own assets and capabilities.

“This is an important moment for expanding private-sector involvement in tackling the short- and long-term impacts of mass migration,” said John Danilovich, secretary general of the International Chamber of Commerce (ICC). “We are committed to working with governments to help mobilize private sector resources and expertise in addressing the global refugee crisis.”

Ronnie Goldberg, USCIB’s senior counsel, addressed the summit on behalf of the International Organization of Employers (IOE), taking part in a roundtable dialogue on safe migration. USCIB played an instrumental role in in establishing the private sector mechanism at the Global Forum on Migration and Development.

“Employers regard migration as a necessary and positive phenomenon,” Goldberg said. “We believe our participation will help governments understand how migration policies and practices affect business operations, as well as enable private-sector representatives to actively contribute to migration policy debates by contributing their extensive experience and expertise on migration issues.”

Read more on ICC’s website.

 

Four Ways to Boost Global Trade

Published on September 16, 2016

G20This year’s G20 Leaders Summit concluded last week in Hangzhou, China. The event took place against a backdrop of sluggish GDP growth and growing concerns about stagnating living standards – leading G20 leaders to place a heavy emphasis on global trade as an engine of inclusive growth and job creation in their annual communiqué. The International Chamber of Commerce (ICC) and USCIB commended the G20’s focus on strengthening the global trading system, but turning words into action has not always been a strong point for the G20 when it comes to trade.

Here are four ways we think the G20 can take meaningful action in the coming months to revitalise world trade as a driver of growth, opportunity and jobs:

1. Ratify the WTO’s Trade Facilitation Agreement

Four G20 countries are yet to ratify the World Trade Organisation’s landmark Trade Facilitation Agreement forged in 2013. ICC has called for the deal to be ratified and implemented without delay to facilitate access to global markets by reducing unnecessary red tape at borders. The deal could add more than US$1 trillion to global trade flows, creating 20 million jobs in the process. G20 governments need to lead by example in ensuring this agreement is implemented without further delay.

2. Stop protectionism in its tracks

A recent WTO report cited that between mid-October 2015 and mid-May 2016, G20 economies had introduced new protectionist trade measures at the fastest pace seen since 2008.

ICC has been clear that tackling protectionism should be a first order priority for the G20 and has called on the G20 to lead by example when it comes to refraining from introducing new trade barriers.

3. Spearhead talks on digital trade

In a letter to the Financial Times published Monday, ICC Secretary General John Danilovich said that spearheading talks on a new e-commerce agreement under the auspices of the World Trade Organisation could “unleash a new era of genuinely inclusive growth”.

With studies showing the growth of small- and medium-sized enterprises using online platforms to be five times more likely to export than those in the traditional economy, ICC believes efforts to level the global trading field must start with a concerted push to address remaining barriers to Internet-enabled commerce.

4. Make the case for why trade matters

ICC couldn’t agree more with the G20’s analysis that the benefits of trade and open markets must be communicated to the wider public more effectively. But amid souring public opinion on trade in many of the world’s largest economies what is the best way to explain how and why trade matters for all?

Launched earlier this year, ICC’s #TradeMatters campaign aims to promote a balanced and evidence-based debate on the role of trade in today’s economy. One based on fact and experience rather than the myth and hearsay of political campaigns.

As part of the campaign we want to tell your trade story: what does importing or exporting mean for your business? Where do you need help to better access international markets?

Business Calls on Governments to Ratify the Paris Agreement

Published on July 1, 2016

Business&Climate_DanilovichThe second Business & Climate Summit – convened by a network of partners that represent over 6 million businesses worldwide – called for swifter government action on climate and the ratification of the Paris Agreement without further delay.

UK Secretary of State for Energy & Climate Change Amber Rudd MP addressed the Summit  reaffirming UK leadership on action against climate change despite the vote to leave the European Union.

“Climate change has not been downgraded as a threat,” she said. “It remains one of the most serious long term risks to our economic and national security […] as investors and businesses, you can be confident we remain committed to building a secure, affordable low carbon infrastructure fit for the 21st Century.”

The Business & Climate Summit – the annual gathering of leading global businesses and political leaders dedicated to climate action – met over two days (28-29 June) at London’s Guildhall, in the heart of the world’s leading international financial center, to address how business can, and should, continue to play a proactive role in reducing emissions and building a climate-resilient economy. Those already leading the way are putting climate action at the heart of their business strategy and reaping the economic benefits of doing so.

Achieving the goals of the Paris Agreement will require a major shift in investment away from traditional fossil fuel based energy intensive goods and services towards smarter, cleaner low carbon business models. To ensure that the objective of keeping global temperature increases well below 2°C remains possible and can be done in a way that minimizes economic disruption, this shift will have to happen immediately.

Following his role as Coordinator of the COP21 Business Dialogue, Gerard Mestrallet, Chairman, Paris EUROPLACE, Chairman, ENGIE, returned to this year’s Summit and said: “The first priority, I think, is setting carbon price signals everywhere, at levels that reflect the objectives Parties seek to achieve according to their National policies, or Regional policies, as for example for the EU ETS in Europe.”

The final day of the Summit, under the theme Finance, Innovation and Policy for The Low Carbon Transition, looked at the scale of action needed. It is estimated that $90 trillion needs to be invested globally in cities, land use and energy infrastructure – doubling current global annual infrastructure investment – between now and 2030 to help secure a low carbon, climate resilient economy.

Governments were urged to translate their ‘Nationally Determined Contributions’ into investment grade policy frameworks as soon as possible and to use carbon pricing as the most efficient way of achieving emission reduction targets.

Discussing low carbon finance and investment, Stuart Gulliver, Group Chief Executive Officer of HSBC, said: “Six months on from Paris we are much closer to being able to implement the terms of COP21 than we were at the start. The barriers to investment are lower, the call to action is louder and there is a clear willingness on the part of business and investors to change their ways and adapt their business models. Investors want to invest in sustainable projects and reduce the carbon footprint of their portfolios. With better standardisation, enhanced disclosure rules and better incentives for issuing green bonds, the COP21 goals can be met, but we must continue to work in unison and at pace with the public sector.”

Business recognizes that, with other non-state actors, it played an important role in securing the Paris Agreement and can play an equally important role in contributing to creating the policy frameworks conducive to long-term climate-resilient low carbon investments. Over the two days, the Summit heard from businesses all over the world, calling for swifter government action on climate and to work in partnership with business to achieve the necessary global policy framework.

During the final afternoon, the International Chamber of Commerce (ICC) led an International Trade Plenary. Trade and climate change have an inextricable and intimate relationship. The Summit heard from business leaders and policymakers regarding the trade policy priorities required from a climate and green growth perspective, addressing the necessary action needed at the multilateral level as well as the possible role of bilateral and regional agreements. ICC Secretary General John Danilovich said: “Open markets are the best tool we have to enhance global welfare and enable climate action.”

At the beginning of the Summit, the We Mean Business coalition and CDP (formerly the Carbon Disclosure Project) launched a report, ‘The Business End of Climate Change’ with research analysis from the New Climate Institute. It examined five global initiatives on climate action and found that under current plans, business actions will reduce emissions by 3.7 billion metric tons of CO2 equivalent a year, or 60 percent of total emissions cuts pledged in Paris by countries’ NDCs. However, business emissions cuts could reach around 10 billion metric tons of CO2 equivalent a year, well over halfway to a sub 2°C world, with the right policy environment for enhanced climate action.

International Chamber of Commerce Statement on UK EU Referendum

Published on June 24, 2016

brexit_sourceFollowing the United Kingdom vote to leave the European Union, the International Chamber of Commerce has issued the following statement.

ICC Secretary General John Danilovich said:

“Business will need time to assess the implications of yesterday’s EU referendum vote in the UK. The urgent priority must be to calm the markets and we need strong political leadership in the coming days and weeks to achieve this.

“From a global business perspective international cooperation is more vital than ever. The UK must not turn its back on global economic integration and trade. Openness not protectionism must be a central part of the response to the Brexit vote.

“The anti-trade sentiment that we have seen in recent months must not dominate the post-Brexit debate. The UK may be headed out of the European Union, but it must move into the world. Openness not protectionism must be a central part of the response to the Brexit vote.”

Telecom Giant Sunil Bharti Mittal named ICC Chairman

Published on June 16, 2016
Mittal
Sunil Bharti Mittal

Sunil Bharti Mittal, founder and chairman of Bharti Enterprises, has been elected Chairman of the International Chamber of Commerce (ICC). Voting by ICC’s World Council took place today in Sao Paulo, Brazil.

Bharti Enterprises has interests in telecom, insurance, real estate, hospitality, agri and food, besides other ventures. Bharti Airtel, the group’s flagship company, is the world’s third largest telecommunications company by customer base, offering mobile, fixed broadband and digital TV solutions to over 350 million customers across India, South Asia and Africa.

“At a time when the global economy is facing unprecedented challenges I am committed to ensuring ICC plays a central role as the voice of business in shaping policies to support inclusive growth,” said Mittal, who served on the Prime Minister of India’s Council on Trade and Industry. “I am honored to be ICC’s 51st Chairman and look forward to working actively with ICC’s global network throughout the world.”

Mittal added: “There is an urgent need to restore trade and investment as a driver of growth and jobs-particularly in developing economies affected by the slowdown in raw materials and agricultural commodities markets. This will be a central focus for my tenure as Chairman of the world business organisation.”

The International Chamber of Commerce is the world’s largest business organisation with over 6.5 million members in over 130 countries. Mr Mittal becomes the third Indian Chairman of the world business organisation in its near-100 year history.

Mittal takes over the ICC Chairmanship from Terry McGraw, Chairman Emeritus of S&P Global, who becomes ICC’s Honorary Chairman.

Roberto Azevedo, director general of the World Trade Organization (WTO) paid tribute to McGraw’s leadership of ICC over the past three years saying: “Over the years, Terry has played a huge role promoting the WTO and the multilateral trade agenda as a force for good. He was instrumental in building support behind the 2013 Trade Facilitation Agreement. I thank him for what he has done for the institution and for global trade in general.”

ICC has also announced that John Denton, partner and CEO of Corrs Chambers Westgarth, has been elected to take over from Mittal as the organisation’s First Vice-Chair. ICC’s World Council has also elected three new members to its Executive Board: Anne Veronique Schlaepfer, partner at global law firm White & Case; Kok Seng Vong, vice president of the Macao Chamber of Commerce; and Philippe Varin, Chairman of the Board of Directors of AREVA.

Current Board Members Esko Aho (Nokia), Milos Barutciski (Bennett Jones) and Cherie Nursalim (GITI Group) were all elected to serve a second term.

ICC Americas Chapters Express Support for Venezuelan Colleagues

Published on June 13, 2016
Heads of the ICC Americas Regional Group
Heads of the ICC Americas Regional Group

Representatives of the national chapters of the International Chamber of Commerce (ICC) in the Americas gathered to express their support for maintaining democracy and the right to free enterprise in Venezuela. As a tense situation worsens in Venezuela, over 17 business organizations – including USCIB – representing more than 1 million companies in America and Spain condemned the unjustified actions of the Venezuelan government against the private sector and the Venezuelan people.

“The actions taken by the Venezuelan government are a clear violation of basic civil rights, attacking human dignity, intimidating the population, and veiled by corruption and impunity,” the ICC chapters said in a statement. “Urgent action must be taken to create a climate of trust based on respect towards the population  that promotes stable and strong relationships that benefit the majority of Venezuelans and not only the privileged in power.”

The business organizations said Venezuela will not reach the path of development and well-being by attacking the private sector, imprisoning executives or union leaders and limiting Venezuelans’ access to their basic rights.

“In a republican government system the separation of powers is a fundamental necessity for freedom,” the statement said. “The checks and balances of a democratic system find strength and virtue in this separation so as to mitigate possible future power struggles.”